Some new thoughts

Previously, I usually compare this housing down turn with 1929 depression. As the history has cycles and tends to repeat things. I used to make 2006=1916. Look at the History of Home Values diagram above, if we make 2006=1894, that'll bring us a completely different perspective to the housing market outlook. There was an extreme situation though after 1894, World War I. And some mass production techniques were major factors making house price down, provided that US has abundant land, not in San Francisco Bay Area however. We don't know if human beings on the earth will have world wars again or not. And I don't know if some new technology will make the house building easier. We don't like manufactured home, do we?

Another thing I know, there are $1 SFHs in Detroit area. You will find ghosts easily there.

Nevertheless, most people are not in land constraint places like SF Bay Area or Manhattan or run-down places like some districts of Detroit. Statistics above may very well apply to us. More people here will have the opportunity to witness what are going to happen in next 20 to 30 years. Let's reconveyance at that time.