We ditched our rental properties in 2009 and 2010 because I suspected this may happen. However if you are still in property then you need to stay optimistic. Falling property prices will be DEflationary and thus putting downward pressure on rates and making it a bit easier for property holders to weather the storm in the next few years. Keeping your job should be the main concern for property holders in order to keep up the repayments.
Bad times won't last forever and I think there are plenty of examples of people who have taken a "get rich slowly" approach to making their fortune through property ownership. It might take you 20 or 30 years but your will get there.
