DR WHO, You generalize to much. Property developers are not all the same, neither are real estate agents. I only sell at my sell price, and only buy at my buy price regardless of what stage in the cycle the market is at. I dont rely on banks to prop me up into leverage positions where i am forced to sell. If the maket crashes its good i buy, if it goes the opposite way i sell.
This year i sold a lifestyle property about $80000 above what some panic cover his bum valuer valued it at. I also bought a new B&T at $125000 below its initial starting price. I do it all my way, my sell price, my buy price thats it take it or leave it, if anyone tells me different i sack them.
The people you generalize about are the mug punters, that run with the herd, getting boxed up in the corners trapped by their own greed, and stupidity. There is always great bargains to be had at any stage in the market, and you can sell anything that the market wants at anytime. People die, they get married, have children, they retire into lifestyle properties, the world still goes round along with the market. Macdunk