I completely agree with this article. I have done my own research that indicates that this will be the worst year. 2009 will be better then this year, and 2010 will actually be a good year. I think that people forget that real estate is cyclical, and just because the market is falling right now does not mean it will fall forever. I believe this is the best time to buy or move up. It gives individuals the ability to have time, negotiate, and get the property that they want! Even if an individual loses $20,000 on selling their property they may gain $60,000 dollars on the purchasing of the new property. So they are still ahead by $40,000! Their is no reason for individuals to be scared about real estate, unless they are currently having issues paying their mortgage. Prabhjit Singh http://www.rempower.com

That sounds about right. I guess it depends on what he means by recovery. If it's values back to what they were two years ago, that's great news. I think it will greatly depend on the market; some markets will take a lot longer and others may recover quicker.