Moody's: Home prices and unemployment won't turn around until mid-2010

Moody's via Matisse Capital:

"...Moody's said it now expects a trough in home prices won't be reached until the middle of next year...Moody's said in addition to borrowers' financial pressure, unemployment is now projected to peak at over 10% in mid-2010 and remain in the high-single digits for two years after they peak."

We always knew that unemployment wasn't going to run around until much later than now.