Real Estate Bubble has Burst?

The real estate market has hit the lowest it has been in almost two decades.  Home sales are down, foreclosures are still high, and the permits for new homes being built are very low.  All this even when interest rates being at all time lows, and with credit card debt per household average, at the lowest it has been in almost ten years.  Doesn't make much sense.  Not to mention that prices of homes are fairly low.  Something has to give and hopefully soon.  I personally have been busy in MA real estate market.  Let me know if you or anyone you know is looking to buy or sell in this buyers market. www.gropmanrealtygroup.com thanks

Real Estate News

The real estate market has slowed down to a crawl.  The tax credit helped, but more as a band aid, then an actual fix to the problem.  The applications for mortgages, and the application for permits for new homes is way down also.  The only good thing is that interest rates are still at record lows, but on the flip side banks are still weary and being very strict on who they will lend money to.  Hopefully a new, more permanant stimilus is put into place to help fix the problem.  www.gropmanrealtygroup.com, http://hubpages.com/profile/Local+Realtor, and follow on twitter @gropmanrealtygroup thanks guys