housing has commenced it fall whether its 20%,or 30% or more time will tell. IT will be painful for a lot people and even governments dropping interest rates will have little effect as jobs begin to go as companies restructure the way they do business. As government starts to move the goal posts people will take a defensive position to see were the politicians will move the posts to. Those with too much debt will be forced to sell to get out and as prices fall those waiting to buy will sit on the side lines waiting for the new bottom.
