REAL ESTATE PRICES TO DROP 50%

Here is an interesting article from CNN regarding the affect of the web on living patterns and, ultimately, real estate prices.

"Web usability expert Jakob Nielsen predicts that more people will live in rural settings, with technology enabling them to do almost anything they like, be it work or play, without leaving their homes."

"The effect will be a drop in the price of real estate in densely populated areas as people choose to live in small towns, causing the population of big cities to decline. Given the nature of real estate, he warned that even a drop in demand by 20 percent could cause prices to be cut in half."

I can see how this effect will take time but may possibly turn into a tidal wave as technology becomes more seamless, useful and ubiquitous. Anyone care to wager?

http://edition.cnn.com/2005/TECH/05/12/visionary.nielsen/index.html