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by CareyBot

The real estate market is gliding toward a soft landing in 2006, according to a Wall Street economist and a real estate economist who discussed the issue in a national teleconference Tuesday. What was billed as a debate between Wall Street and Main Street sounded more like a duet by the time David Seiders, chief economist for the National Association of Home Builders, and James Glassman, senior economist for JP Morgan Chase, ended the NAHB-sponsored teleconference. "I do foresee weakening of the housing sector, but this should be a simmering-down process toward a more realistic condition, not part of a classic housing downswing leading to a recession," Seiders said. The economist predicted that housing prices, which he said increased about 11 percent nationally this year, would increase a...