Housing drops 15.3%

But here is what caught my eye:

Home prices surged in 2003 through 2006, climbing by a cumulative 52%, according to Case-Shiller. Since then, however, the housing and credit bubbles have burst and homeowners have given up half of their gains from earlier in the decade

So, by housing bursting up in just 3 years of 52%, odds are even with the bubble burst people will not be able to afford homes.

52% in three years and the gall of some people to claim that wasn't a speculative bubble.