Consider the couple whose house would have fetched $1 million if they had sold it last year. They had wanted to make a few quick repairs before putting it on the market, and they wanted to purchase a beautiful $1.5 million home when their existing home sold.

Now, a year later, their $1 million home has experienced a value correction of 10% and will fetch $900,000 if they sell it. They are heart-broken for a moment. Then they realize that the 10% correction also applies to the $1.5 million home they wanted to buy−so it is now selling for $1.35 million. They are, quite literally, $50,000 ahead at this point, having lost $100,000 in their existing home's value but having gained the benefit of a $150,000 price reduction for the home they want to buy.

There are other benefits, too. Insurance costs are slightly less. Property taxes will be slightly lower. And their total mortgage amount will be smaller. All of this because of what many in the financial media call a "bad" real estate market.

Look for the silver lining, indeed!