Real Estate Bust or Correction?

Here's another article suggesting a correction rather than bust in the real estate market. The media at large generally takes on the extreme opinion but appears to be taking a more realistic/moderate approach these days. In summary:

"Lower asking and selling prices on houses are integral parts of the self-correction and should help shorten the whole process. Lower interest rates should make those lower prices affordable to a broader number of potential buyers. That could become an even more important factor if mortgage rates dip below 6 percent in the coming months, as some Wall Street capital market analysts expect. "

Here's the article from the San Francisco Chronicle