Health of high-end housing: headed for a crash?

housing healthBy Uptin Saiidi | CNBC

A new report out by the National Association of Realtors showed that pending home sales have risen to a 7-month high for February, and yet total home sales plunged to a 3-month and is down more than 7%.

CNBC Contributor Ron Insana thinks high-end housing is headed to crash, particularly in New York where he’s seen a dangerous oversupply, citing slowing demand, especially from foreign buyers.

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