Jim --
The big problem "stems" from -- your house wasn't worth what it was "worth" at the top either...

Not saying your house in particular... but houses in general.
And then -- many of the cars that were built -- or that were in the works -- were being built with money borrowed against that "worth"... which is now worthless... and the car that was "worth" 200K on Barrett Jackass is now also "worthless" (worth less is almost worthless).... so double whammy....
Which brings us to "averages"... on average - houses went up about 3% a year... UNTIL they went up 25% a year for two or three years... which now has to go down just as much until we get back to those "averages". It sucks - because it was so much fun for people to feel good about everything they touched doubling in value every year...
The car market was our first clue into the senselessness of the "over inflated" world... when we watched dumbasses bid up CLONE/COPIES/PHONY cars on Barrett Jackass to 150 and 200K...
Was fun meeting you at SEMA at our Lat G get together!