Damage largely already done, My tract started selling in 2005, and completed late 2009,
Builder was selling homes 40 % off peak at end, (same price I got mine) , some REO’s in the tract sold for 60 % off peak.
Seems 80% of peak buyers have been washed out already, the rest had large down payments it seems and don’t seem to be going anywhere anytime soon.
There are still a few REO’s and short sales in the tract so maybe a few more.(maybe 5 of the 150 or so homes).