Personally I feel it has been a soft landing since 2004 and now the build up is heading for a train wreck. Whilst there are people who can withstand the downturn, many many more are the speculators who bought on a wing and a prayer anyway. These are the ones who will fuel this years and the next few years figures as they slash their prices to sell.
Also banks are repossessing more than beofre. Int he past the good stock would be farmed out to either existing customers or notaries lawyers etc, but now even this is becoming surplus. Its a replay of the UK 90s era! This overload will shoot onto the market with banks having to take whatever they can get for them in order to get rid of the debt.
I really cant see an alternative – maybe others can??
But yes people will still buy here for the lifestyle or for longer term investment.