I don't think it will take that much time. People will adjust inflated prices on homes others with more financial savvy will come in and buy them up for profits. Lenders will sell out to other lenders and absorb bad debt and in the end the economy will get a spark with all the new money moving and changing.
Usually when someone loose money someone else will make some and the financial snowball starts rolling again. That is the nice thing about the free market.
Problem with Liberal mind set, they think no one is allowed to fail. That the government should prevent people from learning things the old fashion way. They want the government to coddle us our entire life.
Well the best lesson learned in life are from mistakes. And people that made mistakes over extending themselves will learn from it as will the lenders that have to eat some losses.
If anyone has the money and capital to bounce back it is the credit industry.
Usually when someone loose money someone else will make some and the financial snowball starts rolling again. That is the nice thing about the free market.
Problem with Liberal mind set, they think no one is allowed to fail. That the government should prevent people from learning things the old fashion way. They want the government to coddle us our entire life.
Well the best lesson learned in life are from mistakes. And people that made mistakes over extending themselves will learn from it as will the lenders that have to eat some losses.
If anyone has the money and capital to bounce back it is the credit industry.