As I suggested one year ago, real estate debacles of this nature (i.e. free money from Greenspan) will take a long, long, time to boil off - expect market declines in coastal regions to continue for years. In farm country, however, things will be vastly different for several reasons.
http://confusedcapitalist.blogspot.com/2007/06/food-shortages-and-food-inflation.html
