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[Clansgian AT wmconnect.com]

> >Rapid real estate depreciation historically occurs when there is a large
> >increase in unemployment, interest rates rise rapidly, population decreases
> >quickly and substantially. Are any of these conditions likely in your area?
> 

There is another factor at play and we cannot rely on historical trends to 
predict what will happen:  Real estate today has two components:  1) The use 
value  and 2) The speculative value.  Those historical contidtions of 
population, 
unemployment, etc are the only things that can affect the use value.  But the 
speculative value can evaporate overnight  independent of those real factors.