Pending Home Sales Fall to New Lows

My parents had a great house when I was a lad. The cost was about what they made a year in salary. Today, I have to pay about five times what I make a year in salary for a house much smaller than my parent's house. I make great money too. I have this feeling inside that housing is way too costly and will keep dropping until the cost/earnings ratio is sane. Am I the only one who thinks that the cost of housing is out of control?

charlie of CA 2:59PM January 09, 2009