This will be short. A warning to those who are looking for a quick recovery in residential real estate prices: don’t expect a quick recovery. There are many dscouraged sellers who would like to sell, but have pulled their properties off the market, waiting for a better day. For many of them, stabilization of prices may be that better day, and more supply will come when the bottom comes, extending the length, but not the depth of the bottom.
No V bottom — think of it more as a lazy L.