Your house has already lost 27% of its value since 2006. If this becomes a full-blown Depression, expect to lose half (another 50%) of your homes current value.

Brace yourself, America. What if the already terrible economy gets even worse? And not just a little bit worse, but a lot worse? Look at it this way: If you put a group of brainiac economists together in a room and told them to create a computer model of a Great Depression 2.0, the key ingredients would probably be a) plunging stock prices, b) collapsing home values, c) soaring unemployment, and d) a banking system on the verge of complete implosion.

And do we have all those terrible factors in play today? Check, check, check and check.

NVDL: Some good points here. Boy am I glad I didn't buy a house with my sister when they twisted my arm in January 2008.

clipped from finance.yahoo.com My home has already lost a lot of value. Can it really fall much further? Home prices at the national level have already plunged nearly 27 percent from their 2006 peaks, and Richard Moody, the chief economist of Mission Residential, expects values to drop another 10 to 15 percent before bottoming out in the middle of 2010. Although he's not predicting it, if the ongoing recession evolves into a full-blown depression, home prices could fall an additional 25 to 30 percent on top of that, Moody says. That's because a sharply higher unemployment rate would pull many would-be buyers out of the market. At the same time, the dysfunctional credit markets associated with a depression scenario could prevent many buyers with sufficient incomes and solid payment histories from obtaining mortgage financing. The result: "more significant drops in sales, prices and construction," Moody says.