Today's comatose real estate market in a nutshell:

...so far the crisis has unfolded in an almost eerily slow fashion - sort of like watching a train wreck in slow motion and being unable to do anything about it - and there's no reason to think that will change.

You can find this stuff almost everywhere today. A good place to start with references is here. For a totally egghead economics POV go here, everyone who is almost anyone is referenced and the summations might get you to understand the bullshit being evacuated upon us by some usual suspects. Get ready to bury your philosophical mantras. The government is going to HAVE to put a floor under the real estate market; sooner rather than later. All this while Putin basically declares war on Poland.