sdr, good examples. However, I have many friends who don’t live and breathe this stuff and who also don’t think prices have backed off. The best I can figure is that folks simply look at the ads in the sunday paper and see house after house above $800k, or 900, or even 1 mill, that are basically just tract houses in decent neighborhoods, and feel discouraged that they are nowhere near being able to afford them, even though these poeple went to school and have done all the right things in their lives. In other words, when you have perpetual sticker shock, a drop of 5 or 10% is not noticed because it is inconsequential….couldn’t afford it before, can’t afford it now.