If you are talking houses look at the wage/house value ratio. Places like Wyoming with is natural gas and Texas with its descent economy and low home prices will do fine. Places like southern California will get hammered Riverside is a construction based economy with an over supply a units and San Diego and the OC have a lot of real estate and mortgage jobs and crazy income to house value ratios.
The 90’s the decline in house values was caused by the loss of jobs. This decline in house values is going to cause a loss of jobs, which will cause spiral effect lowering prices even more. This will be the worst economic environment this country has seen since the 30’s.
