The analysts also predict it will take 8 years for home prices to be back to the highs of 2008. However, it will be a steady and real increase, not one based on sub prime mortgage or other easy credit lending practices that created the collapse.  One more thing to consider.  Many of us grew up listening to parent’s and grandparents’ stories about life during the Great Depression. Because we were born in more fortunate times, it was always hard for me to imagine what life was like back then. But now we have our own historical financial shake up to retell to our children and our children’s children. Since the Great Depression there have been many Recessions – lasting, on average, 18 months a piece. The current one we are beginning to emerge from lasted 48 months! That’s more than 3.5 times longer than any other Recession.  It was a painful lesson about living within your means and hopefully a good lesson was learned by all.

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