Think it's bad now? It's getting worse, way worse. At least according to serious economists and neutral housing experts, Newsweek reports.

The good news: all those hideous McMansions built over the past few years will probably be coming down -- in foreclosure proceedings, distress sales. The bad news: You or your friends may be in one of those McMansions.

If you're looking to sell your house, get in line and forget about making real money. Inventories are already glutted (near record levels) and buyers are shrinking by the month. If you can sell, sell, and don't listen to those (e.g., realtors) who are telling you the market has bottomed and has only "up" to go. There's plenty room further "down" -- a chasm, many say -- and, unfortunately, it looks like getting there will be a slow and painful drop.