I hear ya Wayne. There sure never seemed to be much of any kind of recovery to begin with. It felt more like a pause in the downward spiral at best, a brief respite from the process of unwinding overinflated home values. Typical of any post-bubble contraction I would think. As for how far off prices are from their peak, I'm not sure off-hand, but a quick 'google' search would probably give us the answer.