property going up - wheres the next hot spot??, page-18

UT
You are right in your evaluation with a small exception, when prices boom, everything goes up "The good, the bad and the ugly" but then when prices stabilise the good flatten and stabilise but the bad and the ugly which are now dramatically overpriced will fall a lot, because these properties could never justify the increase that they attained
When statistics are quoted they give an averaging view so that view may say that property prices are flat but in some areas they will have fallen by as much as 30/40%
All statistics have to be viewed with knowledge of how those figures were obtained, this is information we usually don't have
It has happened before it will happen again.