I think it’s also the beginning of the spillover effects the powers that be continue to maintain have not been seen.

The “fake” money circulating over the last 5+ years (in the form of debt) is drying up as people can no longer tap into their Housing ATM.

LIGHT-TRUCK SALES HIT BY CONSTRUCTION AND HOUSING SLUMP?
Sears, Kmart same-store sales down in 1st-quarter

These are related to housing, but weak sales at Wal-Mart is definately bad news for an economy that relies on people spending money.