The bubble in full burst:

[jrittenhouse]

The Boston Globe is reporting that Massachusetts' housing market is in free-fall; a 21% drop for January in respect to a year ago, and the lowest numbers for a decade.  

Comments

[pyesetz]

Yeah, but Mass. has been ridiculously overpriced for many years.  Even twenty years ago a yuppied who wanted a house in Newton MA ($400,000) needed parental help for the down-payment (thirty years ago that house was $70,000).

[wouldyoueva]

Speaking as someone who would like to buy a house but can't afford the current prices, I'm not upset.

[mabfan]

Good news for first-time buyers...

[rmjwell]

That someone's head should've exploded before they wrote that sentence?

My only interpretation is that the rate of increase declined. Maybe?

[jennlk]

Median condo price ($270K) in Jan 2006 was 1.9% higher than median condo price in Jan 2005. Median condo price in Jan 2006 was 1.8% lower than median condo price in December 2005.

What it actually means? Heck if I know.

But, yeah. They should have had somebody not a business writer read that.