The good news is that inventory levels are improving and housing supply will come closer to buyer demand in 2006. We expect a healthy and more balanced market next year.

I think it's great news for the dollar and it will probably solidify the strong upward moves that we are seeing in today's session.

This is great news on the inflation front. It will be very difficult for the economy to generate any sustained rise in core inflation with unit labor costs showing such a high degree of restraint.

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.

In my opinion it's terrible timing--it's almost irresponsible. That would do severe damage to a lot of the local markets across the nation. We are looking at probably a 10 to 15 percent drop in home prices.

There seems to be some air coming out of some of these balloons.