From our "It's Going to Get Worse Before It's Gets Better" department, comes this report from PMI Mortgage Insurance Company that home prices in the Riverside County area are predicted to go even lower in 2011...

Home prices will be lower in two years compared to Q109 for much of the country's metropolitan statistical areas, (MSAs) according to an economic trends report released by PMI Mortgage Insurance Co...

...The MSAs most likely to see decreased prices are the Riverside-San Bernardino-Ontario, California, Miami-Miami Beach-Kendall, Florida, and Los Angeles-Long Beach-Glendale, CA regions.

Read the report...
http://www.housingwire.com/2009/07/07/mortgage-insurer-expects-lower-housing-prices-in-2011/

And we're talking about 2011! So if you're believing all the rhetoric from the Obama Administration, that we're starting to turn the corner economically, well, guess again...