That’s for “Depression”. As in, the housing market is in a worse percentage price decline than was seen in the years 1928-1933. Read the admission, along with an introduction also admitting that media shills are warned against using the word.
Real estate price declines should be far worse this time, since unlike the 20’s and 30’s it is a major part of deleveraging, due to (among other things) “securitization”, MBS’s, CDO’s, etc. – none of which were around back then.