Housing Price Collapse Coming?

Funny, I thought the housing price collapse was well underway ...

US Stock to open lower after housing data

"The housing market is literally collapsing. Builders have already panicked, but we haven't yet seen the big collapse in prices because people believe their house is unique and they're unwilling to reduce prices to attract buyers," said Gary Shilling, president of A. Gary Shilling & Co. investment research firm in Springfield, New Jersey.