We are absolutly headed for recession. Loan Brokers, Realtors will be layed off due to lack of business. Homeowners will not be able to cash out to finance expensive vacations, 2nd homes etc. Consumers will hold back spending due to lack of run up in the housing market. Rules of supply and demand will set in if prices of real estate are too high for the demand, prices will have to come down. The boom was an artificial boom and now it will crash!
