here are some articles which provide a good insight into this.
1. Companies tend to blame their disappointing results on phenomena that have little to do with their actual operations. Starbucks, for example, recently blamed its poor results on the heat and the ensuing demand it created for time-consuming Frappuccinos. Lame excuses do tend to contain a kernel of truth. The demand for coffee might well decline when the mercury tops 100. So, it's no surprise that companies are now starting to attribute their adverse results to the cooling real estate market. for more read here
2. What with low housing starts, declining builder confidence, soft sales of existing homes, growing inventories, and surging foreclosures, anyone looking to sell a house these days is likely to be a bit stressed out. Except for top executives at big public companies. Yes, the executives who were first in line with jets, sweetheart loans, stock options, and repriced stock options have now devised the first post-real-estate bubble compensation trick. They've figured out how to shelter their own houses from the declining real estate market—by getting their corporations to guarantee their sale price. You may be sweating that you have to sell at a loss, but your CEO isn't... read more here
3. The lead story on the cover of today’s Wall Street Journal discussed the slumping housing market and a CEO of a major homebuilder as saying, “It would be difficult to characterize the position of the home builders as other than in a hard landing.” Some have made the argument that housing must be really bad since even the CEOs of homebuilding companies are so bearish.
.... read more here
4. Witter observes that we don't have a Housing bubble, what the U.S. has is a lending bubble. for more read here
5. Real Estate: About to Get Worse by Steve Sjuggerud, PhD
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