Bingo. The low interest rates over the last year made a bunch of first time homeowners (such as myself) buy that long awaited home. They are betting on keeping thier payroll checks coming, but that seems like it's going to change. The long awaited recovery is still much longer than we think, and our financial institutions are going to pay for it with thier lenient lending policies. IMHO It's going to get UGLY before it gets SO-SO.