Here in Manhattan, home sales are starting to slow. Things that are priced well still go, but the atmosphere is worse, like a plane flight that still goes between cities but hits pockets of bumpy air. One recent example: I have a listing that moved to an accepted offer at a pleasing price very quickly, but then of course both sides couldn't get the contract battened down with any speed.

Still, to a rookie, a down market isn't all bad news. For one thing, when you're building a career, you don't suffer a business slump. Loss of income? Me? Well, I'm just getting started, so there's no high plateau to fall from.  more...