Oh misery, misery when will the housing market recover?

Sales of existing homes plunged again in December. The National Association of Realtors reported that sales were down 0.8 percent last month. For the year, sales fell by 8.4 percent, the biggest annual decline since 1982.

What happened to the once high-flying housing market. For five straight years, prices increased at record levels. Today, the market is slipping into the abyss.

It is going to get worse, I tell ya, much worse.