I think in places like California, a 30-50% decline is possible. It ran up so insanely and now investors and flippers are running for the exits. There never has been wages to support prices in San Diego area. Those $800-900k tract homes are going to plunge big time. I think the Midwest/Rockies will be stagnant to flat. I think the East Coast could lose some value but not like CA. Pacific Northwest looks bright still. Florida is going to plunge bigtime.
They will come down...it was all investors and flippers, not actual people living in these houses. I met so many people that owned 2 or 3 homes and it is bound to turn. I really think San Diego is due for a fall...