Hell, I lost a boatload of money when the Nasdaq tanked. My house has more than doubled in the last four years, even if there is a 20% dip, I'll still be way ahead.
The same happened with NASDAQ: you just got in too late. And the same will happen with real estate "investors" who got in late.
Contrary to popular belief, purchase of one's own home is about consumption. It is a very bad investment vehicle.
In New Jersey, prices are coming DOWN.
The air is out of the balloon. Instead of saying "reduced" some are some "new price" and others are just lowering with no comment.