but, but prices just don't come down in places like NY, Chicago and S.F.
http://homes.wsj.com/buysell/salestr...0330-muto.html
...not.
And this is just the beginning. As the stock market continues to swoon and people find themselves out of jobs (or worried about keeping them), they will have less discretionary income to spend and will not be willing to pay as much for homes.