http://www.canada.com/vancouversun/news/business/story.html?id=735123

Summary
The inventories of unsold homes in Canada have risen, this causes more pressure on the house prices. People are trying to unwind the inventory by pushing down the value of mortgage and this by doing this, it's impacting banks and the ability of people to obtain financing. In places like the United States, it's believed that housing will fall below the one millionth mark. One example of this is Detroit, where the imbalance of demand and supply is very noticeable. It's also believed that now the lower the level of housing starts, the better.

Connection
For things like the prices of housing and land, information should be updated regularly, sort of like the perpetual inventory system. Updates every month or so on house prices would allow people to better understand how the economy is doing, just like how a manager of a store can keep an eye on their inventory.

Reflections
If I were a house salesman, or if I would like to sell a house, I would definitely need updated information on how the land and housing values are doing. If I was trying to sell a house and I overpriced it without any knowledge of how the economy was doing, I probably won't get my house sold. I would also have to know if there is any demand for houses because if there was a high demand for housing, I would obviously increase the selling price of my house. So I think that up to date information on how the economy is essential for things like housing.