The Florida Today site has this housing bubble update. "Construction permits for new homes in Brevard County surged in January above the previous year and month. Area homebuilders agree there is a general slowing down in local real estate, with existing homes typically staying on the market for as long as three months, more than double the amount of time from a year ago."

"Even so, many local firms that build production and custom homes say they aren't scaling back projects, but instead are adding more perks, thousands of dollars in incentives and spending more on advertising to entice buyers. That follows a nationwide trend of cooling home sales, with the Commerce Department recently reporting that January sales of new single-family homes fell 5 percent, the fourth decline in seven months, and the backlog of unsold new homes hit a record."

"Analysts say many of the large homebuilders have seen sales falter, which is affecting business nationwide. Toll Brothers and KB Home expected sales to not meet projections, while Centex is lowering prices for homes in some areas as much as $200,000."

"New homes, though, are staying on the market longer, said Tony Ayala, a realtor in Melbourne. To shorten those times, builders are 'offering incentives, in the amount of thousands of dollars or fancy' extras that usually would cost extra, he said."

"Palm Bay resident Karen Waite decided to sell her 1,300-square-foot house in South Florida for $175,000 and buy a bigger, 2,765-square-foot home in South Brevard. 'South Florida is so crowded, and it's unaffordable,' Waite said. 'What I got for my home here, I couldn't find it anywhere in Broward' for the same price."

And the Sun Sentinel got another critical letter to the editor. "I agree with the recently published letter stating that the South Florida Sun-Sentinel is hurting the real estate market in South Florida. But it is not just the Sun-Sentinel, it is the entire media that are scaring potential buyers."

"The 30 percent-plus appreciation of the last few years was clearly not sustainable. And property prices, taxes and insurance costs are unquestionably high. But there is no reason for so much doom and gloom. Long term demand is bound to continue driving prices higher."

"Compared to some other highly desirable areas of the country, our prices are still low. Our economy is highly dependent on real estate and its related industries such as construction, investing, mortgage lending, appraising, inspections, etc. A long-lasting slowdown in real estate sales will eventually trickle down to harm much of the South Florida economy."

"So the media should act responsibly and be positive. Promote our area's property value, for everyone's sake."