Dream of owning a home wakes up to reality

"... local mortgage broker Brooks Campbell now has another name for [credit-troubled borrowers]: "I think we'll be calling them 'renters.'" -- The AJC comes around to the market reality (we even get a hat tip for our "graveyard humor" in the article). The fallout of course extents beyond just borrowers with bad credit: anyone who can't put in a "real" downpayment will have a much more difficult time getting a loan now as compared to a year ago. I imagine this takes many young first-time buyers out of the market, or forces them to downsize considerably.