There's a growing impression that U.S. home prices

have hit rock bottom and that the housing market could

soon recover. How many times have we heard anecdotal

reports of how cheap it is to buy a home in Florida with a

$600,000 condominium in 2006 now selling for half that, or

the home in the Midwest selling for $1? However, our

findings leave the impression that the misery of weak home

prices can be sustained for much longer, possibly 5 years

or more. This doesn't mean that prices will fall for 5 years,

but any recovery in home prices is unlikely to be vigorous.