Lakefront Mansion Price Cut by $25 Million, article.
... This is just in case anybody is still under that old illusion that real estate is a "safe" investment.
People don't learn so fast. I'll bet that the next time real estate has been booming for a decade or so, there will again be lots of people who will believe the suits at the seminars who tell them that it will continue forever, and that it's a certain gold mine.
Even so, in many places like Europe/UK, the housing crash was really only half a crash, many markets are still simply too high for the majority of potential buyers. So many experts are waiting for the second shoe to drop, and it may be a big one, because this time governments can't dampen the shock with lower interest rates, they can't go any lower!