Do you see the housing market return to fair market values (not inflated prices) within a year to year and a half?

BY Paul Solman  April 11, 2008 at 1:44 PM EDT

Question/Comment: I need to sell my house. Do you see the housing market return to fair market values (not inflated prices) within a year to year and a half?

Paul Solman: Thanks for giving me the opportunity to again quote the late economist John Kenneth Galbraith, whom I once heard say: “There are two kinds of economists; those who don’t know the future – and those who don’t know they don’t know.” I’m one of the former. So, as to any market value within a year or two, I haven’t a clue. On the other hand, check out the market’s best guess via the Case-Shiller Home Price Index.