When you say “rebound quickly” what do you mean? Do you think prices will immediately begin increasing once we hit bottom? I believe that it will take several years for pricing to start heading upward (A L-shaped pricing curve, not V-shaped) as inventory levels are still high. I also believe there is still a lot of pent-up supply that is ready to come on the market (both from banks and homeowners)that will add to our inventory.

I certainly hope for a quick rebound, but am expecting a much longer process.