Business Week - "Housing prices drooping, buyers waiting" (6-12-06)

"Low-ball bidders, persnickety buyers and cancellations are now the rule in once-hot housing markets."

"'Investors were a bigger part of the market than many thought, including ourselves,' said Hovnanian, whose company builds primarily in the Northeast. Would-be flippers are not only not buying new properties, they're selling what they already own, adding to the record number of homes already on the market."

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