Bloomberg - "Think Housing's Stabilized? See Cancellations: Caroline Baum" (9-29-06)

"House prices will have to fall -- more than the 1.3 percent and 1.7 percent year-over-year decline in the median price of new and existing homes, respectively, in August -- in order to work off the current inventory glut. And builders will have to curtail residential construction until buyers chip away at the backlog."