What's the worst case scenario for housing? Some say it's an epic and historic crash of 25% to 40% from the peak. So what do you say?

Have at it. What's the "oh dear god hide the children and head to the bunker" worst case scenario for housing?

The Worst-Case Scenario for Housing - Forecasters say a 40 percent drop in home prices from their peak is possible, though quite unlikely

"Our weaker scenario...is a 25 percent decline in prices," says Celia Chen, Moody's director of housing economics. "That would be in the case of a housing and credit crash and still a moderate recession." There are new worst-case whispers as well. "You want the darkest? Forty percent," she says. "There's your apocalypse."

Lawrence Yun expects the economy and the housing market to recover in the second half as Federal Reserve interest rate cuts and the government stimulus kick in. "In terms of home sales activity," he says, "we may be scratching the bottom."