> regular middle-class homeowners, who will see the enormous paper gains of their properties As one of those homeowners, I keep hoping that housing values go d

> regular middle-class homeowners, who will see the enormous paper gains of their properties As one of those homeowners, I keep hoping that housing values go down because I'm taxed on the value of my home every year, and that tax burden is crushing me. My property taxes are 2% of the (appraised) value of my house. The fact that its worth twice what I paid for it is meaningless to me when the tax bill comes - I can't really sell it and cash out the 'investment' because I need somewhere to live.