>if everyone did stay home for 14 days you may well eradicate the virus
This would not be possible. There are at least several species of animals (mikes, civets, and bats) than can transmit this virus. We would need to quarantine and test, or kill, each and every one of these animals to be sure we eliminate this virus, or else it will eventually make its way back to humans.
My opinion, based on what I read, is that this will be a bit of a scourge until such time as enough people have immunity from either catching it or getting vaccinated.
Over time, as this new coronavirus makes its way through the human population, the experts it to become less virulent in general and/or appear less often. [0]
[0] https://www.statnews.com/2020/02/04/two-scenarios-if-new-cor...