Home prices may fall for 3 years...

http://biz.yahoo.com/rb/071206/realestate_index.html

NEW YORK (Reuters) - There is a "substantial" risk that U.S. home prices will slide for the next three years or more, in a downturn that could be unlike anything seen before on a national level, Morgan Stanley said on Thursday in a report.

Yes, I'd like to point out that it says three years or more. I will choose the "or more". Three years is not long enough given that the government is likely to be far from finished meddling with the market. More government meddling means that prices will take longer to correct to fair value. It would, of course, take less time than that if interventions designed to put a floor under home prices were not taken.

Just remember this:

...unlike anything seen before on a national level...

Why? Because of loans issued that are unlike anything seen before.