Which way will the housing market go? That’s the million dollar question for so many American homeowners who are underwater on their mortgages.
Now, we may continue bumping along the bottom for a while longer. But so much in the market is self-correcting. We’re not building new construction like we were, so population growth will soak up the excess supply.

When you get down to it, the core reason you can’t dispose of houses is because we had far more supply than we had demand for housing. Job recovery and natural population growth will do the trick. 
If you’re not paying, all the talk about moratoriums likely bought you a little more time, but that’s it.