I have told you what we experienced during 1991, and I have said it about 3 times.
no one is interested in your net worth or your portfolio, or even where your properties are.
numerous times you have said that your ip fell in value by $50,000 and that you were "close to the cliff" but nothing more
now - what, in the current market, indicates to you that the market is overheated? why, specifically, do you believe the market is overheated? what exactly was it that put your family "close to the cliff" (asides from the interest rates rising and the property apparently losing value) - was it that you didn't take interest rate increases into your calculations, was there a loss of job, was there another factor or combination of factors? what did you and your family do to get out of this crisis? did you sit tight and pull in the belt buckle, did you cash in some other funds, did you work 2-3-4 jobs to get the required income or something not considered? none of this has been answered.
geoff - spot on as usual. interest rates are only one minor factor. if there was no existing underlying demand for housing than interest rates wouldn't be relevant as no one would be borrowing.