I know, I know, I'm approaching the harping point. I'm trying to back off on this but certain articles just present the situation with such clarity that I deem it important to share.

This article contains A LOT of data and analysis of the reported and under-reported numbers as compared to the headlines and puts it all in perspective. The outlook is awful, but of course if you've read nearly anything I've posted on the coming mess you already assumed that.

The bottom line is summed up with this statement, repeated in the article : the malaise is spreading outward and beyond the highly damaged coastal states.

http://seekingalpha.com/article/192951-reality-check-for-bank-investors-mortgage-investors-and-home-buyers