Chris Thornberg nailed the housing bust and has a very similar outlook to myself. He believes a housing bottom could come this summer, but more likely later in the year. More alarming, he believes prices will remain depressed for years. I should note of course that I do not see housing bottoming in the coming year (although I did call for this mid-year “false dawn”), but rather bumping lower and lower at a reduced rate until we see a full mean reversion. Another 20%+ price decline is in the cards before 2013 in my opinion.