Predictions: The issues will continue to compound due to lack of lending and buyer/seller lack of confidence. It will be another year in which people will be forced to accept that current market prices are much closer to "real" than the pre-recession numbers, which where based on unsustainable hyperinflation/appreciation. People will be forced to rethink the role of real estate in regards to investing/wealth acquisition.
1. People begin to accept the present market as reality and not attempt to use some sort of PMA (positive mental attitude) to wish themselves into the market of yesteryear.
2. That lenders begin to change their model and lend to truly qualified borrowers vs. penalizing the entire population for their recklessness.