CNBC reports today that the housing market has slipped into depression territory. Nationally homes prices have fallen 26% since 2006. However, in the greater Phoenix area we are well over a 50% decline. During the Great Depression housing prices fell 25.9 percent. Nationally home prices have been falling for over four years and analysts predict that prices will continue their decline in 2011.

Where's the bottom? We don't know. Unemployment is at an all time high, the economy is improving for no one but Wall Street, and gas prices are expected to skyrocket. So? Higher gas prices means higher everything and right now most people just don't have that much money to absorb any additional costs.