Housing Crash Goes Mainstream

This whole crash has been like watching a train wreck in slow motion, and it's gotten to the point now where it's in a major publication like Newsweek. What will that do to consumer confidence as the magnitude of the problem seeps into public consciousness?

If you have some schadenfreude you can click through and see that in LA the hit might eventually be in 6 figures. Who's going to jump in front of that freight train? Most places don't have incredibly wealthy residents and geographical limitations that the "superstar cities like New York and San Francisco" have. Manhattan isn't getting any bigger. It remains to be seen how badly this will hurt the rest of the economy, but the real trick is where to invest while everything is hitting the fan. In the worst case scenario, we have to unwind not only the housing bubble, but the dot com bubble, too, and nothing will be a safe haven.