SHILOH: You and I of the same mindset. Especially when you said: “It took Japan about 16 years to recover from their bubble.”
I think it will take at least 16-20+ years to recover from this bubble. There are simply too many factors that will inhibit the return to “The Good Ole Days” in the housing industry in the bubble markets. There are lots of markets that will probably chug right along in many parts of the country where houses are appropriately priced to the incomes of the buyers. You can rest assured that there will be a bunch of new regulations concerning buyer qualification, appraisals, etc. that will prevent this foolishness from happening again.
