New-housing market slumping
Building starts and permits drop across the nation
Seems to be a consensus emerging that the housing boom is about over. Better hurry up and buy that $600,000 condo in Fresno with an interest-only variable rate loan before it's too late.

Any doubt that the national housing market is beginning to cool disappeared yesterday, according to some experts. New housing starts and building permits nationwide both saw sharp declines in October, according to data released yesterday by the Commerce Department. It's likely that higher mortgage rates are finally taking their toll on a housing boom that has lasted more than five years, far longer than many expected