The Kubler-Ross Sequence

Since this housing bubble seems to be in the early stages of popping, it is prudent to remind folks of the Kubler-Ross Sequence of Emotions (originally, "The 5 Stages of Receiving Catastrophic News") so that we can more easily identify which stage of the bubble's popping we are in.

The sequence:

1. Denial ("I am not going to sell this house for less than I paid for it.")
2. Anger ("Damn if I’m going to believe that lousy report that says I am going to sell this house for less than I paid for it!")
3. Bargaining ("God, if you let me sell this house for a profit, I promise to be a better person.")
4. Depression ("I’m so sad that I’m going to sell this house for less than I paid for it.")
5. Acceptance ("I’m going to sell this house for a loss, but, you know what? I’m all right with it!").