I see the bottom in early/mid 2008. I think this will shakeout fairly quickly with 2007 seeing the sharpest declines. All the upcoming ARM resets will help prices drop quickly.
At least this is what I’ll be rooting for. The sooner we get to the bottom, the sooner I can buy. Plus I think a quick and painful price drop will do less harm to the economy than 6-8 yrs of slow declines.
