. >> reporter: real estate broker ennis antoine, taking two of americas top experts on housing prices-- economists karl case and robert shiller-- to a development minutes from downtown atlanta. >> how many bedrooms? >> three bedrooms, two baths, granite, hardwood floors, stainless steel appliances >> so these are really nice places? >> very nice places. >> reporter: 16 very nice places in a very nasty market. woodlawn estates, a would-be gated community, broke ground in 2005-- the atlanta market taking off. just a year later, phase one was done. local demand at that point? unhinged. >> the wheels came off the third quarter, june of '06. that's when everything started falling apart. people stopped paying their mortgages, they weren't qualifying, foreclosure inventory went up. and that's when everybody realized, whoa, maybe the credit was too easy for most people. >> reporter: so only two of the 16 units sold. but ennis antoine's been betting on the $8,000 federal tax credit, extended through the spring. >> and we also had a state tax credit of $1,800 which, if you're a first time home