it is a known fact that housing prices are based on the buyers ability to pay. a "qualified buyer" can afford a 1200 dollar house payment. that means he can buy a 100K dollar house at 10% or a 200K house at 5%. low interest rates brought prices up. lowering the standards of qualifying borrowers brough prices up. the subprime loans were the icing on the cake. its way too late. no one can afford their houses and to eat and get back and forth to work. its over folks. all over but the stark realization. everyone is upside down on all their debt, sometimes many times over, wages are virtually frozen and inflation is only just beginning.