I only excerpted part of her US RE opinion as the .pdf is 36 pages, so you can pick and choose what interests you the most in these writings.
BTW, I couldn't find any spell check errors in these well written pieces this time around.
Problem is we do not know how big is the inventory of homes held by the banks. Estimates vary from 4.8 million to 9 million homes held, in the process of foreclosure and behind in payments eligible for foreclosure. The legal snafus in the foreclosure process has created an artificial drop in foreclosures, but the inventory and pipeline of homes is hidden like an iceberg. Sooner or later these homes will be liquidated and placed on the market. Rumors is the Fed Reserve recommend the gov buy them in huge lots and sell them to large investors pennies on the dollar. Sold or rented out by the new owners it will depress the prices of any home being brought today or near future by atleast 20 percent. So if one plans to buy a house, figure a drop in value by 20 percent before it hits real bottom within 10 years.