Posted by Bod Hundley SJ on May 08, 2008 at 06:54:18:
In Reply to: It Wasn't Me posted by Jimmy on May 08, 2008 at 03:15:37:
You Your friend and Jimmy are all correct!
For primariy residence purchases in the short term Many families will be making the Rent versus Buy calculation and look at values softening or Rising and make their choice to retn or Buy from there.
Also like Jimmy said in the investor side unless you have DEEP pockets ( Rich Man's Game) you better not buy a negative cashflow property even if the value has fallen from 500K to 280K if it does not pull enough to be positive cashflow it is likely to fall farther in value as more and more REO inventories rises.