real estate values in the US will adjust only when interest rates rise, since buyers base the price they are willing to pay on the monthly mortgage payment, not on the actual price they are paying for the property. I know this is how most people think, but to my mind it's a recipe for personal financial disaster. Far better to get a $98,000 12%/30 yr mortgage after the bubble bursts than a $180,000 5%/30 yr mortgage before, even though both mortgages have the same $1000/month payment.
you will never alter that cycle. the real estate market is not "fair".