Sometimes it is prosaic items that are the scariest...

Something as commonplace, for example, as the list of foreclosures in the newspaper. In the video above, someone flips through the Wayne County (Michigan) newspaper, showing the foreclosure notices to the camera.

See if you can guess beforehand how many pages of the newspaper are required to print the list.

Then understand that this is happening before any of the major auto companies go belly up.

All of this "product" has to work its way back into the marketplace, at prices much lower than recent ones. Anyone who thinks home prices (or the stock market) will quickly rebound in a V-shaped pattern is living in a fantasy world disconnected from realities like those depicted above.