New homes sales report released tomorrow

Tomorrow should be a good real estate news day, with lots of bubble talk. Today's existing homes report really surprised experts, so there is a lot of interest in tomorrow's report. Nonetheless, today's data seem to indicate that the real estate market is going to continue to cause 'shock and awe' for some time.

The view that the current real estate market is a bubble is becoming much more common. A recent survey "of 400 affluent Americans by McDonald Financial Group found that 60 percent now believe there is a housing bubble, even if many of those don't think the bubble will burst for a year or more." (CNNMoney)

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