comparison the percentage change of the Case-Shiller Home Price Index for the housing correction beginning in 2005 (red) and the 1980s–1990s correction. The current depreciation depth is alarming in comparison with the last downturn. I cannot wonder how bad it’s going to be in the months ahead…

http://en.wikipedia.org/wiki/Image:Csipeak2back0407.JPG,

also, a surprising comprehensive, in-depth and current description of the housing bubble at http://en.wikipedia.org/wiki/United_States_housing_bubble.