So with me trying to get a mortgage, is the housing meltdown good or bad for me?

Evidently, the worst of the sub-prime meltdown is about to start, and prime loan holders will start going next.

Homes in California going for 50% of the price they recently sold for. I can't help but think this is going to be bad for everybody - and now I'm looking at my own mortgage not sure if they're going to approve me.

Deep breathes.