Housing activity has peaked. There are no balloons popping.

November's numbers confirm that housing activity has peaked and is now slowing.

We are really on track for a soft landing. There are no balloons popping.

Housing activity has peaked. Inventories continue to rise. I see the housing market continuing to soften.

The continuing shortages of housing inventory are driving the price gains. There is no evidence of bubbles popping.

The air is coming out of the balloons.