MIAMI, FL - MAY 27:  A "For Sale" sign sits in front of a new home May 27, 2004 in Miami, Florida. According to the Commerce Department new home sales in the United States suffered their largest monthly drop in 10 years in April as rising mortgage rates cooled the housing market from the previous month. New home sales fell 11.8 percent to a seasonally adjusted annual rate of 1.093 million units from an upwardly revised record high of 1.239 million in March.  (Photo by Joe Raedle/Getty Images)
Joe Raedle MIAMI, FL - MAY 27: A "For Sale" sign sits in front of a new home May 27, 2004 in Miami, Florida. According to the Commerce Department new home sales in the United States suffered their largest monthly drop in 10 years in April as rising mortgage rates cooled the housing market from the previous month. New home sales fell 11.8 percent to a seasonally adjusted annual rate of 1.093 million units from an upwardly revised record high of 1.239 million in March. (Photo by Joe Raedle/Getty Images)

Fortune's Chris Matthews offers analysis that the real estate market has seen substantial improvement, but we'll be dealing with the effects of the housing bubble for years to come.

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