A couple of readers suggested noting the significant 'milestones' we've seen with this housing bubble. "I’ve got a Labor Day weekend topic suggestion. It’s good time to look back at how far we’ve come and what the important milestones have been."

"I’ll suggest a format:

1. What marked the top of the housing bubble? (e.g., last summer’s Time magazine cover).

2. What have been the three most important events/milestones/turning points since the top? (e.g., July 2006 — Countrywide CEO says he’s never seen a soft landing in his 53 years).

3. What will be the next key milestone? (In my opinion, when public perception shifts from the housing bubble to the lending fiasco — the Business Week cover seems to be pointing in that direction).

Another added, "Next key milestone - negative YOY price change in the national median for existing homes."

"No matter how flawed that measure may be, it will be a headline statistic that the MSM will use. Joe/Jane Sixpack will see it and react."