segment on 60 minutes ronight, page-34

Lord, you seem to talk some sense. People do tend to get swept up in sensationalism. It's what sells papers. Why would 60 min do such a program and ask for level headed opinions. I'm not saying that I am not worried, but 50% is a very general statement. Remember this is the same program that found every person willing to testify that Shapelle Corby was innocent. I'm not saying that she is one or the other, but what i am saying is that if you look hard enough, you will find someone to agree with your arguement. Remember they had body language specialists, experts, celebrities, etc. They made a case for her which many many believed (fell for).

I have no doubt there will be people suffering in certain areas. Maybe we will see isolated cases where properties sell for 50% less, but to make such a general statement is ridiculous. Once again, if rents decrease by 50% as well, then there may be a case for it. But, as i have said before, if rents level out here (highly unlikely) and my place sells for half of its value today, then whoever buys it will be yielding near enough to 12%. I suppose the argument there could be if interest rates are up around the high teens.