Thats kind of proves my point. If you paid say 125k and held to...

Thats kind of proves my point. If you paid say 125k and held to now, even with the big drop of the 90's you're still doing ok. I would obviously rather buy in at 40k but even with a second round of mass sell offs, if you had the property rented or lived in it, it would still be a good long term investment. You would either be living rent free with little or no debt or have an income off it.

Hmm... Who am I kidding, nothing would suck more than watching a house you just paid good bucks for take a dive like that!

So it comes back to same ol question, buy now before it goes higher or hope there's a correction coming soon. I now understand why the BG's of the world are so one sided with their arguments!

On that post about Blairgowrie, that's an area I know well, the agents quoted in the article have said and done some questionable things in the past and the prices are all over the place from 400's into several millions. Being a small town the average price is totally dependent on what sold that month. I hear there are plans to re build the yacht club and extend the marina so that could add some value if you're happy to be that far down the line.