I've discussed something similar with Delta a little while ago and he subscribes to the idea of "Assumed vs. Real value in Real Estate" prices.
Basically, when only one or two houses are on the market, there is one or two people with enough interest to pay these assumed prices. You put enough properties up and reality sinks in.
Simple supply and demand.
Correction....The "REAL ESTATE" bubble now in existence is totally INFLATED.REASONS: greed, insanity, corruption, basically HUMANITY. therefore, the 'fragile economy'
must correct itself and begin to "COLLECT DEBTS" which means CRISIS!!!!!All planned of course.
:hammer: (start stocking ammo and food!) :-?