Last summer my wife and I were shopping for a potential second home in Charlottesville, VA. We quit looking when we decided the prices were too nutty. Home prices there have gotten more attractive lately, however. They’ve come down from insane to merely ridiculous.

“Here’s Your 5-Step Checklist to Know It’s Over Before Even CNBC Does.”

“I’ve already called this credit crunch, ‘the worst financial crisis since the Great Depression’…and unfortunately, we’re not through it yet” says Eric Roseman.

It’s true the worst of this credit storm has probably passed. But banks, companies and individual investors are still facing funding pressures. That tells me the absolute bottom of this crisis has yet to arrive.

“We’re beginning to see the whole world financial situation as a U.S. problem. There is a lot going on…but the big story seems to be about America and Britain, to the extent it shared the Anglo-Saxon economic model…its money, its wealth and its place in the world…” says Bill Bonner.

“America’s triple-A credit rating may be in danger”, says Standard and Poor’s.

“And one of the sensitive Mogambo Economic Tremor Detectors (METD) shows that the apparent slowdown in Total Fed Credit for the past few months has now been revealed as a mirage, and Federal Reserve Credit has now ballooned another $6.1 billion…”