Stupid goats who got foreclosed on aren't going to live under a bridge, and a lot of property is tied up in the foreclosure process. Low supply + high demand = awesomeness.

Precisely, this is why I am looking at block of 4 condo units close to me so I could secure them before the "sweetie shop" is closed hopefully in the next 5 to 6 weeks.

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"If women are so bloody perfect at multitasking how come they can't have a headache and sex at the same time?"
Billy Connolly

Where are you? I'd say you have at least 6 months to buy something unless you're in a place like Phoenix where prices totally tanked and are now moving up. Bulk sales to big investors are a danger, but aren't going to move forward with any speed till Fannie and FHA have studied the test sales to death. Fortunately, the government moves slowly.

I'd buy in Phoenix, but the problem is that most of the place needs redecoration. With an H-bomb. And having to go there once every few weeks wouldn't be a pleasant prospect.

I am staying local
You got PM

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"If women are so bloody perfect at multitasking how come they can't have a headache and sex at the same time?"
Billy Connolly