Record fall for real estate

Real estate prices are falling at a record pace. Frankly, this can come as no surprise.

Did we think that things were going to turn around when sales are crashing? When unemployment is on rise?

Stock analysts need to take off their rose colored glasses and stop reading from President Obama's own teleprompter because things are bad and getting worse.

Present demand for high end real estate is simply not sustainable. People are cutting back on expenses and number one on the chopping block are luxury homes.