Some homes worth less than their copper piping http://www.reuters.com/article/newsOne/idUSN2527885420080401?pageNumber=1&virtualBrandChannel=0
Banks cant keep up with the flood for foreclosures so they allow people to stay in their foreclosed homes. This article is eye opening. We are years away from a bottom. http://www.bloomberg.com/apps/news?pid=20601109&sid=aOluOO8Vy0gc&refer=home
hahahahahha. Prime contributors to society, subprime lenders, getting wiped... "And they've made cutbacks: trading in Kent's Corvette for a Suburban and getting rid of the gardener, for example." Wow.. This is CNN, Not the Onion? Not exactly Corvette -> Prius.
once again, the housing "crash" is only a problem to those that bought the "higher" prices. There is plenty of cash on the sidelines. In fact the next 5 or so years is going to be the best for individuals picking up Great Homes at Great prices. The housing crash is local. There are plenty of growth areas and area's where RE is stable. There is a "Slowdown" nation wide for sure. But not every city is experiencing "Crash" and Burn. Dallas, ATX, Houston and SAN ANTONIO (which just hosted the NCAA Games) is still on fire. To the locals, prices are outrages, but to the Transplants, its Robber-Barron times. Of course, if you choose to pay to much for something in the area, you can. If your smart, you don't.