it all depends on how many people are involved in building houses and if those people can find a new job
i think in Spain something like 10% of the country had a job purely because they were building houses that were not needed
no such problem here. I think sentiment alone will be the driver and as such it will take a while to shake the myth that houses only go up - if that happens at all
i see a drift down that tapers off before too long unless something significant happens like big hikes in rates, commodity price fall, the government has to cut back sharply on spending, dollar rises to $1.30 et etc
