"Starting to look"?
Man, if it looks like a duck, it quacks like a duck...
Classic Ponzi Scheme, classic asset bubble. And a textbook boom and bust. Nice to see the MSM catch up, albeit a year later...
Selling a new home is getting harder and harder: Just ask the builders who are being forced these days to entice potential buyers with expensive inducements such as free swimming pools and fancy kitchen cabinets.
At the same time, the torrid pace in the existing-home market is slackening, as prices are leveling off and properties are staying on the market a lot longer than they used to.
Adding it all together, a variety of experts now say, the housing industry appears to be moving from a boom to something that is starting to look a lot like a bust.
The latest housing data, released Tuesday by the National Association of Realtors, made clear that a significant slowdown is under way.
July 26, 2006
NY Times uses the "B-word" - "The housing industry appears to be moving from a boom to something that is starting to look a lot like a bust"
Posted by blogger at 7/26/2006