I think we have entered the long drawn out depressing/boring phase.
A phase where the banks trickle out foreclourusers at just the absolute right amount
(An amount that would take years for the computer deep Thought to calculate) to keep comps depressed just
Enough to discourage anyone from listing accept the widow who is forced to sell because she has to move to a nursing home.
So what you are left with is an extremely dysfunctional real-estate market where builders have little incentive to build, sellers have very little incentive to list and Buyers are left fighting over the foreclosure scrap yard of housing, and almost any biz that has to do with real-estate in a depression state.
Well have fun, this is your world.
