Yawnnnnnn...not breaking and a correction to the housing (or stock market is no big deal. It's expected and common.
>>Yawnnnnnn...not breaking and a correction to the housing (or stock market is no big deal. It's expected and common.<<
Have you been following this? The debate is not whether or not ther is a correction (although that WAS the debate last year - one side was proven right, if you get my drift), but how serious it will be. People that bought years ago and let their equity build will not be as acutely affected by this. Those who bought in the last twelve months with creative financing, or those who refinanced all of their existing equity away recently may be more effected.
How bad this thing will get depends on whether this reaches critical mass. If it doesn't it will just be a fairly seriouls correction of the biggest price runnup in history. If it does, well, it could be worse...