Times Reports on Housing Slowdown

What a change from the last few years, those years where no one dared to say the B-word. Heady days.. You couldn't lose on real estate speculation. Seems that opinion is shifting rapidly, much more rapidly than even I could have imagined.

I'm not sure if anyone caught the NY Times article from yesterday:

Slowing Is Seen in Housing Prices in Hot Markets

"More sellers are putting their homes on the market, houses are selling less quickly and prices are no longer increasing as rapidly as they were in the spring, according to local data and interviews with brokers."

It's something the RE bears have been noticing for some time, the growth rates were entirely unsustainable, and it was only a matter of time before the house of cards tumbled back to the ground.

I'm happy to start seeing articles of this nature in print, in the past, you seldom saw anything but Real Estate cheerleading in the press. These articles will, no doubt, have a strong impact on buyer psychology..

grim