S.L. there is a fundamental flaw in the blanket statement that...

S.L. there is a fundamental flaw in the blanket statement that property will fall or collapse.

Boring at the risk of repettion property can fall IF you buy in a dedicated growth area that is or will service a predominant industry.An example that should come to memory is in Victoria with the Latrobe Valley coal extraction for the electricity supply.The massive effect of privatisation and the layoff's still reverberate to this today like some old mining pits that were shut down in England during the 80's

In a nutshell yes where you build a concentration of an industry like a car manufacturing and it closes surely night follows day the unemployment will rise and infrastructure will decline.

History tells in micro economies the social and environmental effects when people are desperate to move out and or relocate to a better climate for employment,a bit like a gold rush.

So in simplistic terms looking beyond a price of a property and see what its long term value is should be seen as to what its potential or loss will be with the economic and social impact.