So what is the "Ultimate Great Housing Crash Nightmare Scenario"?
You just know there are a millions and millions of people who made really bad decisions these past few years, who are regretting them now. Kent and Mysti from the other day were a good example, but there's many more out there even worse off than that.
So what's the worst it can be?
My take - anyone who's housing screwed can just walk away. Turn in the keys. Go rent. Find a new job. It's just money, it wasn't your house anyway, and there are more important things in life.
And next time, don't listen to anyone on commission. They'll screw you every time.