History says that home prices will not increase for several years after they bottom. After the last major downturn in the early 1990's, nationally home prices did not increase for about 5 years.

Remember when the DOW was at 14K, then 10K? Buying a house in this market is like buying at DOW 10K (DOW 8K today). Outside of the potential for inflation, there is a very small probability of home appreciation. A decline of at least 8% remains.

For about the past year Realtors have been advising homeowners not to sell their homes if they do not have to. This is horrible advice. There will be no V recovery.