patrick.net

Lots of good information in there.

The tl&dr version is:
things aren't as bad for the housing market as they were in 2009-10 but are still pretty awful. Foreclosures will be high for a long time which will effect supply and further drive down home prices. Also many home owners in the 50+ age group have no home equity at all, so reverse mortgages as a hail mary retirement strategy aren't going to work for a very large number of people...

those in that age group...( i.e my parents ) who bought when a brownstone was 16K in the 50's still had plenty of equity to pull $ out... before they passed on.
But I understand their are others that are not in that situation.

Glad you believe the prices are still heading down...

One of my grandmothers almost just did! She's going to heaven, of course. She survived, but will almost certainly drag past this life one or two HELOCs that allowed her to put a closet in her condo in 2005, or so.