From what I understand, it was along overdue correction.  The majority of people do not make knee jerk decisions but are in for the long haul.  It was said, if people didn't open their returns over the past few months, they'd never have noticed a difference!

People will always need homes and I don't see that ever changing.

Not much.

REal Estae is becoming a better investment...and some buyers are telling me that,

I don't know if it's a coincidence or a reflection of the stock market drop but the past few days there have been an unusually large number of price reductions in the local luxury home listings.

I agree with Sandy Padula and Norm Padula, JD, GRI , the Fed is so indecisive, it driving people nuts.  No one likes having their portfolio lose its value, and we think this is a short term event. A

Housing is slow to react. It does not have knee jerk responses like the stick market. 

Winston Heverly I've heard this is just a correction; however, anything that affects the economy will eventually hurt the real estate market.

Many investors have lost big bucks. 401Ks ahve been severely affected. And all while the Fed sit around deciding which resort to hold their next meeting.

there may be some hesitation on the part of buyers to jump....just what we need in this continuing fragile economy....

Time will tell the tale.  

Not much.

Historically  a downturn in the stock market has had the largest effect on the luxury home market. Time will tell if this is a correction or a downturn.

I don't think anything to quick, we will have to see in the long run. Any decent investor had to have seen it coming though, I loved the stock market yesterday, was great side income!