Chart: Comparison of housing busts in U.S. history
If the current housing bust follows previous busts, the bottom is a year or two away. However, we are also in an "exceptional" time in history. I can see where the bottom could still be significantly further out than a couple more years.
Re: Chart: Comparison of housing busts in U.S. history
One of the things that's different about this bust versus most of yours on the grid is that this is National rather than local. Now having said that I still think locality matters. Some places are farther into their bust than others. Some places never had the kind of irrational run-up in real estate like others to begin with. All things considered IMO we are at the bottom this year, depending on what happens in November and what other crazy-a$$ BS .gov decides to throw at the problem (which might prolong it).
It might well be said that, while the free market bends over backwards to serve the needs and desires of individuals, the state merely bends individuals over backwards.