I think this is extremely to hard to predict, since there is so much uncertainty in housing. You have, mortgage rates, QE2, mortgage interest tax deduction, foreclosure-gate, and inflation. It's not your typical business cycle.
Read it allOriginations will decline to $996 billion in 2011, from a projected total of $1.4 trillion this year, the trade group said today in a statement released during its annual conference in Atlanta. Lending reached a record $3.8 trillion in 2003 as refinancing soared, with new loans remaining elevated over the next few years as home prices and sales boomed.