The housing market here is pretty stable since about 50% of the population is employed by the government. The prices for cheap houses here (under $300k) have not gone down a whole lot here but with the interest rates and tax credit it's a pretty good deal, especially if you can find a good short sale or foreclosure. I wouldn't say a house is always a good investment though. I have seen so many upside down mortgages...and real estate increases in value relatively slowly compared to other investments.
This thread should receive some sort of award for being so off-topic. In the latin board talking about Chinese women and rental properties, lol.