Massive price drops?

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I am interested to see how far people are predicting residential real estate price valuations to drop during this crunch and period of great instability.

I see it as being massive personally. If you look at inflation adjusted prices over the past 120 years, the past 30 have been insane - the graph looks like x squared! Now that the cheap money, "free" credit, and irrational exuberance is ending, I wouldn't be surprised if we saw an additional 60% drop in values over the next 3 years. The dollar devaluation seems to be highly underestimated in addition. Many people will be stuck in their current homes until values come back to where short sales may actually be viable. What do you all think?

If these things do happen, how would it affect your investment strategies and your life?

For me, I have been working to get started wholesaling while I was trying to free myself from the rat race by next year. It may take a little bit longer now, as I'll have to plow more cash into my college debt.

This situation is a far cry from what I was told to expect when I was still in college a year and a half ago. Guess I can't call it boring!

-Chris