Syron warns of 'bubble' in luxe markets

Here's more on what Freddie Mac's CEO said yesterday:

Syron did not specify how much prices could fall but said he expected a correction in places that experienced strong appreciation of expensive properties, including Boston, New York City, California, and Florida. For more moderately priced houses, Freddie Mac's chief said current, large price gains will end, but he said they would continue rising in ''single digits."