Why buy a home to lose money on it the next day? 19 million homes vacant.

That's how a deflationary spiral starts.

 

Its like buying a new car. You lost 15% when you drive it off the lot.

 

a lot of these homes aren't brand new though, they're used

 

Just saw a show on Home and Garden TV, Newlyweds buying a home just outside of Las Vegas in Henderson.

Homes have been on the market for 6 months to a year, with holes punched in the walls from angry owners who were foreclosed on. The price would be 205k and the couple would offer 200k with all that other inventory! They should've offered 115k!

If the bank doesn't like it, let them die with it, or tear it down!