As with the Great Fall of Japan, we are waiting for the government and banks to throw in the towel. This will result in the "cleansing fire" of a housing crash. It's better than limbo.
Already, 30% of the houses in the neighbourhood are empty, with pathetic attempts to make them look occupied. We have some nice rental property that is empty, because it is not nice to rent to people who will never pay.
Once we have the crash, it would be best that we have a rental system that is quick with cases of malfeasance. I understand the bleeding hearts, but it does no good to have no rentals available.
I entitle this "The Bear Market of Sinking Property"
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