How Bad is the Housing Slump out West? This Bad:

"The number of contracts [for new homes] signed in the fourth quarter fell the most in [luxury homebuilder] Tolls West region of Arizona, California, Colorado and Nevada, where orders tumbled 87 percent."

And, judging from its stock's performance, Toll is perceived to be one of the healthier builders.

Now that I'm a homeowner no "you're just a bitter renter" comments, okay? I can't say that owning a home has made me any more sanguine about the housing market's near-term prospects.