Housing Rebound: Why It Could Take 20 Years

Seeking Alpha reports:

You know where the housing market has been. You may not want to know where it's headed.

There are tentative signs the depressed housing market may finally be close to bottoming out. That might sound like good news, but hitting bottom doesn't mean an upward rebound will follow anytime soon. Economist Celia Chen of Moody's Economy.com has published a forecast suggesting that residential real estate could take 10 years to recover in most states—and 20 years in Florida and California.