Most economists believe the true level of unemployment is higher.

So even if lenders start to post and foreclose in Jan-Feb-Mar....it's probably another 6-12 months before we see those home hit the market.Some economist say we are already out of the recession so when these start to hit the market in 12 months it is just the start of another party.That's my crystal ball.

I would do 5 year as it’s a lower rate and over next five years I do not see significant increase in interest rates (not an economist).

There is literally no economist, reports, article or any credible info that I'm aware of that would validate anywhere close to a 70% drop in property values. 

How many times has anyone heard any analyst, any economist, any forecaster anywhere talking about DEFLATION in this time?

Although I just saw Lawrence Yun, Chief Economist for the National Assoc. of REALTORS, post: "Apartment rents had soared but are calming down back to earthly levels and could even fall by next year as abundant new supplies of multifamily units are under construction."

I am an economist and data analyst, she is a CFO for a government contractor.

https://www.economist.com/united-states/2018/11/03/rent-control-is-a-hot-button-issue-in-california-againThe ECONOMIST

Selma Hepp, Chief Economist at CoreLogic, reports:“U.S. home prices rose by 0.8% in February . . . indicating that prices in most markets have already bottomed out.”And the latest data from Black Knight shows the same shift.

I am an economist so the only way to know if you win is to make more $.