REBGV headline detached averages have dropped from peak $1850 K to current $1486 K, about 17%.
Sleuths such as @VanREflipflops have revealed many examples of substantially higher drops.
At what price levels will support come in? and from where? and when?…
All of this currently speculative (cough, cough).
Using the price chart and other past markets as a guide, REBGV headline detached prices (real, adjusted for inflation) could drop back to support determined by prices seen in 2013 (-45% from peak), 2009 (-60%), or even 2003 (-78%).
This will still seem incredible to most, but it is the lesson from comparable speculative manias.
Are locals going to be lining up to overextend themselves into RE anytime soon? If not, prices still have a long way to drop.