housing - further to fall

Housing is local. However, at a national level, median prices will continue to fall. By historical standards, it is still too expensive. (In that post, I'm amused by tangent some of the commenters went on about peak oil.) With mounting layoffs and unsold home inventory levels that are still above average, I don't see any way that prices move any direction but down. It's pretty easy to envision another 10-15% drop in prices and 25% in selected markets.