[warchild9]

Around here, we're seeing it in more concrete terms. Laid-off Yankees high-tailing it for home are finding they can't sell their houses fast enough, so they rent. And the quality of people we have colonizing, er, moving into our area is dropping noticably, thousands of Mexicans aside.

[Brian S]

Laid-off Yankees high-tailing it for home are finding they can't sell their houses fast enough, so they rent.

Which will most likely result in foreclosure of the house that wouldn't sell. Of course, the house has no equity value because when it was refinanced, any equity was pulled out and spent.

Banks start liquidating there foreclosures and there goes the rest of the housing market.