Housing slump in America

After news of homebuilder Toll Brothers orders slumping by 21%, many are claiming that the bubble is about to burst within the housing market as prices drop. Real estate brokers have dismissed these claims saying that the slow down will be gradual and not a sudden drop in pricing, and considering last years business boom for Toll Brothers this year has still been a good year. The market hasn't been all bad for this year with some states showing increasing growth.
Is the Bell Tolling for Housing?
"Rosenberg says that housing, unlike stocks, is a slow-moving asset. Bull and bear markets in real estate tend to last years, not months. He figures that housing hit its peak sometime last summer. If that's the case, then today's caution from Toll Brothers is just one of many likely to come in the months and years ahead. A slowing market? Yes. A bursting bubble? No." Businessweek
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