<p>All true. Most of the initial housing crisis was in just a few states–FL, CA, AZ and Nevada. If credit for normal buyers had not become so hard to get we would not be in anywhere nearly as bad a shape as we are today as the vast majority of markets were not that overheated and flimsy. But now it’s too late and it might take years to recover. It’s just a shame. Here in Washington our foreclosure rate is still in the normal range. But with 1000’s now losing jobs some will be forced into it after the fact.</p>