It may be sensationalized, Janie, but although mainstream news the last couple of evenings isn't soft peddling it, their concern comes across as valid. One financial person was asked why his take on it is so much grimmer than it was just a week ago - and he said it's because the situation has become appreciably worse.

The week before, he had said that money lenders and mortgage holders may have cause to be worrying but that homebuyers might simply find it wise to put off the search, because the prices might come down a bit shortly. This week he's pointing out some hard facts.