[quote=permabear]I know lots of people on this forum are waiting for houses to drop another 30-40% so they can get them at rock-bottom prices.[/quote]

Find a single post on this forum in the past year from someone who expects another 30-40% downside. I don’t think you can.

I’m in the bear camp, and like several others here, I’m guesstimating another 20% down on the coast at the outside, and it could take several years for that, assuming no more intervention.