Well what is it - Market going down or Market is not going down?

There is a lot of scare going around in the air. People are saying, oh recession is coming, Market is going down, Gas prices are up and affecting every thing....etc. As per Toronto Real Estate Board President says,

"Moderate sales and healthy price increases continued to characterize the Greater Toronto Area resale housing market during the first half of May. With 4,422 sales throughout the GTA in the first two weeks of this month, activity has declined 12 per cent compared to the 5,003 homes sold during the first half of May 2007"
But regardless of all this, I still believe sales are still there, and people will be still buying and selling real estate. As per our mortgage consultant, in June interest rate will go down .25 bases again. And this is very good news And I think it should keep the sales up for coming month what you thinks. Please post your comments or e-mail me. Also is New Land Transfer TAX from Toronto going to effect negatively?