The bottom will only occur after the solvent banks begin lending to each other again and the insolvent banks either go away or bring out their dead and mark to market.
Basically, when the credit crunch is done, and sane lending standards have truly returned, then the bottom will be in sight. Prior to that, forget it. The problem for a lot of people including some of those in this forum, don’t want to admit what that really means…and that is over correction of home prices in SoCal. I will happen…I had my doubts a year ago, but now it is pretty clear that nothing can stop it.
