My personalty belief is that it will be 15 before prices recover to the peak in some areas, and if I where in a situation where I would need to relocate in five

My personalty belief is that it will be 15 before prices recover to the peak in some areas, and if I where in a situation where I would need to relocate in five, I would take the hit now so that I would be on the road to recovery. Hell if most had did it in 06 they would most likely be able to get a mortgage (albeit at a higher interest rate) by now. Specifically, Vegas, Arizona or Florida I would have had to do some soul searching , if I where not going to be there for over at least 10 years.