This morning and yesterday I was listening to the news. They were talking about the tremendous crisis in the Housing market. Prices were falling ,falling ,falling. Doom !!!! Gloom !!! The end of Western civilization as we know it.  But then they said prices nationwide were down 1/2 of a percent. The market was off in terms of sales nationally about 8 percent and new homes starts for October were actually up .

So what am I missing? Do we have a correction in a market that got superheated due to bad loans and  over speculation? YES. But has there been a monumental shift in Buying patterns and the fundamentals of the market? NO. So what is the "problem"?

There are markets that are impacted more than others . Some for business reasons other than the housing credit crunch. Others because of the big run up in prices. But net net while the numbers look, and are big, the overall percentage is not. I guess what go me started on this is a gloom and doom blog I saw this morning about foreclosures.

Now never let it be said that I am cynical but I am beginning to wonder whether all this noise is a prelude to a move by financial institutions to get me and you to bail them out. Or maybe it is a way for them to try another way to get into our business.

Yes there are foreclosures. Yes the subprime problem is a real problem , and yes speculators are getting burnt. But is our market going South? I do not think so. I just don't get it. Isn't there enough other bad news the doom and gloomers can write about besides the housing market.