Real estate seems to finally be slowing down in the “bubble” areas – Florida, New York, California, Las Vegas, etc.  It seems like it was a bit overdue to correct anyway, but I have to wonder how far it will correct.  The market I live in hasn’t hit the proverbial wall yet, but it does show some slowing.  There are still outrageous valuations out there, but they seem to be selling less frequently.  I have wondered for a long time how long it would last, but didn’t want to sell my house and live in a tent (or apartment) and wait for a crash, because you know what they say:  “The market can remain irrational for far longer than you can remain liquid” (or sane if you are living in a tent.)

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