I don't want to see people lose money but at the same time I think in many areas of the country real estate growth has far outgrown pay raises. Average house price last year went about 13% I believe, cost of living went up almost close to 5%, raises were about 2-3%.
Some has got to give.
There will probably be some adjustment, I just don't see the big crash happening. At least not here in So. Cal.