Interest Rate Roundup

Wednesday, April 12, 2006

WSJ: Hot housing markets go cold ... fast

I've been shouting from the rooftops that the housing market is toast ... that sales are going to slump and prices follow ... and that many neophyte real estate "investors" (and I use that term VERY loosely) are going to get their heads handed to them. So I want to make sure you don't miss today's Wall Street Journal story (subscription required) with the headline: "Hot Homes Get Cold"

In short, it chronicles how there's a massive build up in inventory on the market, how so-called investors are trying to dump their overpriced properties, and how buyers are finally wising up and telling sellers to take a hike. Forget what the National Association of Realtors might say -- this is a bloodbath in the making, not a "soft landing."


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