Housing Realism - the bubble may burst

The current trend in housing sales going down, down, has started to hurt development in Philly!

http://www.philly.com/mld/philly/15384654.htm

Below are two New York times articles about the housing bubble burst. I think the Times paints a more realistic picture of what is going on with the housing market than the Inquirer - goes back to the Toll brothers owning the Inquirer?

http://select.nytimes.com/2006/08/25/opinion/25krugman.html http://www.nytimes.com/2006/08/25/business/25home.html