September 23, 2011
Many U.S. homeowners waiting for their house to be worth what they could have sold it for in 2007 or 2008 could be waiting 20 years, according to forecasters.
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Some markets, however are a different story. Washington D.C. and coastal California look to snap back pretty quickly, and New York's housing market has so far been on a solid trajectory toward recovery due to strong bank profits, according to Richard Green, director of the USC Lusk Center for Real Estate.
For markets such as Florida, Las Vegas and California's Inland Empire, "maybe 20 years is right," Green says.
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