This was a good conversation. We are for sure headed for a big downturn. I do think we shouldn't let the market become absolutely dominated by BlackRock, though. If individual buyers, home owners, and mom-and-pop investors bow out for two or three years, this will be a 'you'll own nothing and be "happy" ' kind of place.

Don't mean to shill, but I'm super proud of my brother-in-law and his business partner with their new real estate tool for market research called BrightInvestor.com . It brings the data the big boys use to the individual investor and levels the playing field.