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Okay, perhaps nobody else has gotten tired of this, but it's something I couldn't help noticing about MSM coverage of our housing market. First, the obvious: constant references to how the market is returning to a more balanced state, which is better for buyers and sellers. How is it better? Supposedly a moderation of price increases that were starting to make the whole market unaffordable. The increase of listings is good because it means there is more choice after several years with frenzied activity.

However, what is this balance, really? Is housing more affordable? No, it's clear that its not. What's the one thing that would make it more affordable?

Umm, yeah, lower prices.

Does the MSM foresee lower prices in the near future? Of course not, instead, they look forward to a cooling of the red hot market and a continuation of single digit annual price gains.