I can’t imagine in any way, shape or form there would be a so called “soft landing” for real estate prices. I’m hearing the same arguements that I heard in 2000 regarding the stock market. When there is an asset class that has been driven to extreme levels (up or down) on major speculation and greed, there’s a major correction that follows. Reason being is that there are no fundamentals in place to support the prices. There were new paradigm proclamations by analysts and investors every day during ’99 & ’00. What happened shortly there after? I realize real estate is not a transparent, liquid investment which has allowed the NARs to manipulate public sentiment, but at some point, panic will set in and create a very bad scenario. Once emotion gets involved, most people are destined to make the wrong decisions. Behavioral finance at it’s best.