Recession or depression?

I try to be a "glass half full" person on current economic issues, knowing that, to some degree, believing is seeing on economic trends and projections.

But, is "The Great Recession" more than that? Give this blog post a read. The blogger primarily talks about the steepness and rapidity of the drop in housing prices.

And, given apparent fraud, failure to secure titles, etc., the backlog of foreclosed homes could take years to clear.