“For many reasons, the rebound will be disproportionately small compared to the decline,” Moody’s said this week in its
latest outlook on the residential market. “It will take more than a decade to completely recover from the 40% peak-to trough decline in national home prices.”

The housing market is in the third year of the current downturn, one of the worst corrections in U.S. history as a result of the economic recession and the mortgage industry nearly grinding to a halt during the credit crunch.

Moody’s predicted home prices “will remain at a persistently lower level than we anticipated prior to the crisis, and it
will take a full decade from the 2010 bottom just for the [Case-Shiller] national index to climb back to its 2006 peak.”

Full story can be found here: http://www.marketwatch.com/story/home-prices-wont-regain-peak-this-decade-moodys-2009-09-18