If housing fell 50% then it would be back to normal value
Do you honestly think housing is really worth this much when wage costs and material costs have not gone up that much.
and forget the population argument, just look at cost of buidling the house excluding land.
anything that over inflates can and usually will pop.
home loans were about 7% not long ago, now they are around 9.5 and soon they could be 14% again.. being the case that means people can only afford to buy a house at half the price.
so who is going to buy your over valued house then?
