20 Years for Housing Recovery?

One Moody's economist is predicting it will take 21 years for California housing prices to reach their peak levels -- 2030.

According to the story in U.S. News and World Report, Economist Celia Chen thinks housing prices nationally will continue falling until the end of 2010.

She thinks prices will fall a total of 43 percent from peak levels. Nationally, prices won't recover until 2020 -- with places like California and Florida lagging behind for another 10 years.

The Orange County Register brakes this down on an annual return for the O.C.: 2.7 Percent.