We love Wall Street bonuses.

To make a decision on your home on a purely financial basis makes no sense. Will your kids have to change schools? Will your rental have enough room for all your things?

In the last six weeks of the year, the buyers sort of came back. I believe that's going to carry over into the first quarter. There's a lot of talk about the bonus money.

There was significant pickup in the last six weeks of the market; the buyers came flocking back. Part of it was the anticipation of the Wall Street bonuses, part of it was the feeling that there was some opportunity to buy and negotiate.

Buyers got tired of paying more and more and took a breather.

We still have an oversupply of buyers over sellers, especially in the largest apartments and most desirable neighborhoods.

The buyers were pausing, and the sellers didn't seem to notice.

When you see things that have stalled, it's because of price. The million-dollar one-bedroom is not a fact of life. It exists, but it exists in special buildings with something that is beyond the ordinary.

What will slow this market down, and has slowed certain segments of the market down, is overpricing, ... Back in the spring there was such a frenzy that very pedestrian product was drawing multiple bids.