Malibu's Million-Dollar Real Estate Goes Up in Smoke - 2007-01-10
Fires raged through a star-studded stretch of Malibu this week, destroying multimillion-dollar homes and attracting national attention to one of America's most bewildering communities — a small city that is home to 12 billionaires and where celebrities live comfortably with regular folks. Real estate agents from Sotheby's International saw the expensive properties go up in flames from their office window.
Read the full story at ABC News

U.S. housing seen showing more life in second half - 2007-01-10
The U.S. housing market will weaken more in the first half of the year before coming out from this cycle's trough, unless employment sinks or the Federal Reserve is compelled to hike interest rates, according to a panel of real estate industry analysts on Wednesday. After a five-year record run, home sales and prices in many regions were lower last year and could deteriorate for a few more months before showing more evidence of life.
Read the full story at San Diego Union Tribune