" Home price declines may continue through 2009 and bottom-out at the end of the year at the earliest, although recovery may not begin until mid-2010 and will take several years, according to one economist that spoke at an outlook panel at the American Securitization Forum taking place this week in Las Vegas. Mark Fleming, chief economist First American CoreLogic, said that in the most optimistic scenario, if the government stimulus took effect today and put the complete brakes on home price decline, the market would still need roughly a year at the very least to display any kind of recovery in home value."

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