[artplumber]

Wayne,
Keep reading to the last line. Pop is still increasing. Not all the immigrants are from poor countries, and even the poorer people are buying homes because of the crazy loan practices that the loan companies are pursuing. I don't know about the Kali real estate market for sure, but I doubt whether things are headed down. They may be flat for a while, but unless alot of these loans start defaulting that is not going to happen. Maybe continued fuel price increase and jobs going to China will do it, but I don't think that anyone can reliably predict what will happen.

I've looked at a number of markets over there, and although no one is seeing 20%/yr, prices cont to steadily increase. In Fl, I thought that the market might get depressed with the rate increase, and it was slow for a while, but apparently the median price is up by 100K in the city I live in, and showings are back up to 1 yr ago's levels.

I wish that prices would go down too, just doesn't look like that will happen. Seems to me this is like $3.50/gal gas, no real rhyme or reason to it (other than too much money to invest and the whole "futures" market), but it's there and not apparently going to go away.