Normally when you talk about housing bubbles bursting,...
Normally when you talk about housing bubbles bursting, you're talking about a specific local market. But we've never had a nationwide run-up in home prices like this. I don't think it's realistic to think the decline won't also be national. I think a 15 percent nationwide decline is very plausible. In many bubble areas, could be looking at 20-25, maybe 30 percent declines.
![Dean Baker Quote About Bubble, Bubbles, Decline, Home, Housing: Normally When You Talk About...](http://qt.azureedge.net/resources/quotes-images-large/normally-when-you-talk-about-housing-bubbles-bursting-youre-talking-about-a-spe-f25f5cecff42c2ed849b0ebea0ca6e67.jpg)