Real Estate Investing and Housing Trends

For the seventh straight month, the National Association of Realtors lowered its forecast earlier this week for 2007 existing home sales, expecting a drop of 8.6 percent from last year.
The association now predicts U.S. existing homes sales to drop to 5.9 million in 2007, down from 6.5 million last year.  The forecast was below last month's prediction of a 6.8 percent drop.
This year's sales will also be lowest they have been since 2002, when sales were 5.6 million.
Downward Revisions Becoming the Norm?
As the housing bubble …