Of course there's the saying that what goes up must come down. Boy have we seen that in the housing market and equity valuation in the last year. Homes in my neighborhood have fallen out of the "mansionization of America" category to almost affordable!

But what about this: What if what's going down, down, down finally hits bottom and bounces?

Isn't that just as good of a saying? It happens to alcoholics…they hit bottom then are ready to make a turnaround. It happens to rubber balls, basketballs, even footballs. It did not happen to the glass storage container that fell out of my shelf basket yesterday onto my concrete floor. But bouncing happens a lot.

Surely you aren't prepared to say the housing industry will flat out crash like my glass container, that everyone will lose their home. I didn't think so.

What happens next is recovery. Some will be personal and some will be corporate. Mortgage interest rates have been rising, albeit slowly. Home values have begun to recover in some areas, and in others are still headed downward. But things will get better.

Your home equity, which has dropped in proportion to the "correction" on your home's value will sneak back up.

Meanwhile, see if you can find a good investment property before pricing goes out of sight again. You know it will!