The Boomers are in their peak earning years, buying second homes and retiring to Florida. We're seeing a lot of development and a lot of building but demand is greater than supply.

Home sales are coming down from the mountain peak, but they will level out at a high plateau -- a plateau that is higher than previous peaks in the housing cycle. This transition to a more normal and balanced market is a good thing.

The housing sector has likely passed its peak . . . and the boom is winding down to an expansion.

The housing sector has likely passed its peak. The boom is winding down. I expect continued softening in housing if rates remain at these levels or go higher.

They're not retiring. They're moving on.

I truly believe the housing market will continue to expand. But rather than the double-digit price appreciation we've seen, we might see that drop to a 5 or 6 percent appreciation sometime toward the end of next year.