Recession?

Ben Bernanke is finally warning us that the housing recession is likely to spread throughout the economy (http://www.msnbc.msn.com/id/21688234/).

And while he isn't using the "R" word, every other housing recession has let to a wider economic recession. Yet, with GDP growth over 3% in the third quarter, we have a lot of slowing in front of us--how sharp and fast will this downturn accelerate?

It makes me nervous!