In spite of the slowdown in housing builders keep continuing to build. around my area there are a bunch of new houseing projects just starting to break ground. there are a bunch of commercial buildings that have gone up in the last year that have many vacancies and yet there are new commercial buildings being built. a while back the homebuilders were talking about the market getting back to normal once a lot of the inventory is worked through but I dont see how thats possible with all the new inventory coming online. I dont think we are any where near a bottom in the real estate market. My brother in law works for a roofing company and he just got laid off along with about 200 other people at the company and all the equpment was just reposesed. my cousin is the manager of the commercial loan deptartment at a bank and he just told me that they just lost 11 million on this condo project they did a loan on. they built the first phase and could only sell 3 units so they just filed bankruptcy. I think we are just seeing the very beginning of bad things to come. it will only get worse as credit markets begin to get tighter. I'm not trying to be negative. I hope I am wrong because I am in the middle of my own real estate project.