if prices don't come off 40%, it'll be a first, page-29

You raise some good points thejonesboy. I've always found it amusing that when the proposal of a large property correction is mentioned that some argue that this will be the 'end of the world'. I don't believe it would be. The world will still go on. Some investors will be burnt (badly) and others will be fine. The outcome of such an event will be more affordable property for the next generations. I don't see that as such a bad thing.