Last week there was evidence the housing market in L.A. was a bit soft. This week there's even stronger evidence that the Boston housing market has slowed.

I wouldn't use the term "bubble" to describe housing prices in Boston/NYC/DC/Florida/LA/SF these last few years. But Stein's Law could well apply: If something can't go on forever, it must eventually stop.

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[pj]

My wife, who doesn't read very well, commented the other day that "There's an awful lot of houses on the market right now. It seems like they've tripled in the last month." I was surprised, so she pointed out a few to me. They had election signs in the front yards.