I suspect there are a lot of homebuyers (particularly investors and speculators) who believe that even if they're buying in at the top of the market, they'll be able to get out. Here's one cautionary tale that I found at another blog site. In this instance, the sellers couldn't afford to sell when their house dipped in value below what they paid. It took them ELEVEN years -- including some years of two house/rent payments -- to unload the original house for what they paid. An interesting read.