I love the BS about "prices have dropped X percent". One simple point - if the properties aren't selling, how do you know what the "market" is? To have a market, there must be buying as well as selling. The prices you see now are not what people will buy at, they're priced at what owners think they will need to offer in order to sell. And we see attempted soothing comments from the vested interests such as estate agents and banks, while at the same time they reach for their helmet....