I live in central Illinois and my house has only about tripled in value in the past 12 years, while my real estate taxes have only risen about 25%. My house is paid for, I like it and have no plans to move.
The hub bub about falling prices doesn't directly effect me and won't unless the moonbats in congress come up with a plan to bail out home buyers who made bad decisions.
It affects me because of the industry I work in, but it will correct itself and then prices will again begin to rise once people start buying the now-discounted homes and demand again increases.