by Calculated Risk on 5/29/2006 12:24:00 PM

Barron's cover story is about the second home glut: The Big Glut

A couple of quotes:

"If you want to sell, you've got to go back to '04 prices," says Chip Harris of Coldwell Banker Previews International

"People don't believe in the laws of supply and demand anymore," says Alan Skrainka, chief market strategist at Edward Jones. "We're not saying it's a bubble, but we're saying prices are overstated and will likely correct 20% to 25% over four or five years."