Yes you are right, but this happens with every asset class. However there are a huge number of successful players who did their research, went in with realistic longterm expectations and were shocked by the jump. Even if the market retreated 30%, which in good areas I don't believe will, they are still miles in front on longterm projections.They are happy to hold their l/t positions. You can't say the worst will happen to most property investors as the majority are not as exposed as you think. Be fair the credit squeeze, Opes, CNP and many more were no more than financial engineering with no relation to asset value. Many people were caught , but that does not doom the financial sector does it?
