I think Stan is right but there is a possibility the pace will increase. HLS, I’ve read your stuff for a while and there is an unusual air of desperation in your words in this thread, are you feeling the crash is emminant. I know the traditional school of thought is a slow and measured decline but interpreting from industry insiders, yourself included, I feel we are at the abyss and I’m without fear. The local market made extraordinary gains during the up cycle, there is a fair chance there will be equally earth shattering declines, it broke rules on the way up so it should break some on the way down. I don’t have a bad feeling, the world won’t end, but I also feel this will not be a measured decline. I know you are looking at this from a humanistic perspective because you talk to many of the affected people every day and you have come to a “stop the insanity” realization. These people will survive with all of their limbs intact and it will be a while before they are ready to dive into the game again. The goal here is to capatalize on the trend, soon R/E will be completely out of fashion if it isn’t already and the opposite of catastrophe will have occurred, then and only then (when a teacher can afford a house) will all be right with the world again. Don’t fear it, embrace it, it isn’t just a good thing for reverse flippers, it’s good for society.