From CNBC: "Luxury home prices finally getting too high?"

Wednesday: • At 10:00 AM ET, Pending Home Sales Index for November. The consensus is for a 0.5% increase in the index. Note: Long time reader and mortgage broker "Soylent Green Is People" sent me a note yesterday: "the unthinkable is occurring: seems like Irvine home prices have hit an air pocket, falling in some cases." Irvine is expensive, but not a "luxury home" market. But this has me thinking that we might be seeing a slowdown in prices increases (or flat prices) in some areas. From Denise Garcia at CNBC: Luxury home prices finally getting too high? The tables have turned in the real......(read more)

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