Historically speaking you are absolutely correct but the conditions surrounding the current market are different than ever before. One of the biggest threats I see is when the banks start putting pressure on those customers with negative equity, which I believe, is a substantial number. On the Sunday show yesterday, John Symond brought up a very good example, a city block of 80 units selling for $750,000 each where only 6 have sold in 12 months, who's holding the can? One of the most dangerous things about property is that people still think that you can't lose on property.
