The truth from the ground, based on the
extensive footwork
due diligence I conduct plus emails from readers around the country
reporting similar observations, is that the inventory of home listings of soaring (the published inventory
reports by design have 2 - 3 month lag), prices are dropping quickly, the time it takes to sell a home is increasing significantly and, most important, the potential pool of middle class home buyers no longer have an income level that will support the size of mortgage it takes to «buy» a home.