and we were told housing prices never go down, page-8

whoever said they will never go down was wrong..........obviously
and to say prices will drop by 30% across the board is also wrong
its location location location........tell that to the inner city folks in melb and they will laugh at you........in fact property prices world wide have been on an upward trend, even in iraq they were up 300%...........
they are screaming about it in the US, mostly about the sub prime thing........but then they were selling homes to people who could not afford them anyway........sounds like in sydney's west, selling housing commission type homes for over 300,000 when actual value was half that,,,,,,,,might be similar in the US...........but do you think it is strange there is no mention of who is buying these homes ???? cannot sell without a buyer........they are predicting..up to 500,000 mortgages to crash and burn this year in the US........
might be an idea for you to go over there and buy some cheap houses, because they will go up again once this thing has settled down
cheers