looks like we have a good many stats analysts here ,unfortunately they dont look at the detail,that average sale values have dropped does not equate to a drop in property value.
it could well be the data is being completely misinterpreted,i tend to look at relative value,eg in my local area you can find new homes for 369k,however they are on 300sq.mtr. blocks,3km away in 30year old suburb with all the necessary infrastructure you can buy a very nice home on 550-800sq.mtrs <369k or substantially more upto 500k,the general public see slowing sales,however prices do not appear to be dropping,listings are drying up.
distressed sales are another matter and professional investors are looking at these knowing the market is slowed by more stringent finance requirements,you see professionals believe you make all your money when you buy,reason being yields,others think they make there money when they sell >$,however you need to be really careful with that one because of the time value of money and inflation.
universal trader is absolutely on the money trail,the others are either living in overinflated areas or misinterpreting data,like they say trees dont grow to the sky.
buy selectively with a minimum of 20% equity and things should be ok
