So you ask, "how low do you think prices will go?"......"have we hit bottom?" You may even ask, "is the world coming to an end?" Ok, well I haven't been asked that, but I've been asked something similar during the woes of the current market.

Now CNBC Analyst Dennis Kneale raises what may be the most critical question of all: Is the current housing crisis really a "crisis?", or just a problem blown out of proportion? Take 2 minutes 28 seconds and see if his answer to the question matches yours by clicking the link below:

So the Summary looks something like this:

-1/3 are owned 'free & clear'

-1/2 of the remaning 80 million were bought before the year 2000

-The median home price is up 53% since then

-Overall, 95% of all mortgage holders still pay on time.

-That leaves us with maybe 4 million homes in trouble.

-Moreover, only 2% of the households in America are actually in foreclosure! this really a crisis, or the proper adjustment necessary to get home buyers back in the game?  You make the call!