Just what a new homeowner needs to hear

CJR recounting a WSJ article:

The WSJ includes numbers that indicate further that the press should lighten up on its use of “subprime” when describing the current housing crisis. Subprime was just the canary in the coal mine. The Journal reports that $3 trillion worth of mortgages—or nearly one in three— could be “underwater” by year’s end. Total subprime mortgages equal about $1 trillion.

Batten down the hatches folks, there's a big storm a comin' -