I bought at the absolute top of the market thinking I got a deal by offering 20k less than the listed price and using a seller financed interest free (first 5 years, balloon after 10) second loan (15% purchase price) for a brand new build. 2 weeks after closing Bear Sterns collapsed and the bottom fell out of the market.

I am a Property Manager in San Francisco with 12 years experience gearing up to invest in Real Estate in California. 8 years after the Real Estate Collapse there are still homes to Buy and Hold at great prices.

Just a few weeks ago:Are we going to have a complete collapse like Greece, I would hope not, and I don't think so.

Everything is balanced; wherein some things collapse, others go up.

 : )Luckily, I am 52 years old and likely will be dead 20 years from now when it all collapses.

If someone's house was worth 400k at the top of the market, but 250k after it collapses, you don't lose any money, you just make less for selling that house (so make up for buying/selling more).

Just when he thought he was on his path to riches, the property market collapsed, the economy goes into recession, and his properties are all worth $80,000 a piece.

I have seen other investors cleaning up as of late and was going to do some direct mail campaigns again pull a few deals a month till the economy collapses.   

Closing in on a decade of upswing since the roof collapsed.

Personally, I feel collapse is a strong word and a bit alarmist.