Just looking at the chart surveyor posted. The “V” shaped recovery there (in housing starts) occurred in 1991-1992.
But prices continued to fall (in real – not inflationary adjusted – dollars) until sometime around 1996 or 1997.
As another poster pointed out, the bottom of the housing construction sector (to economists anyway) doesn’t necessarily result in a pricing rebound (and indeed, from previous examples, doesn’t even mean prices will stabilize).
