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I think you are exactly right Gene. It is a great time for 1st time home buyers or investors. The interest rates are at an all time low and it's a buyers market. Also the government has a new program for 1st time home buyers that will loan $7500 with no interest for 15 years.
you are correct. What's bad for one is good for another.
On another subject, would this be the time to buy a rent house?
Andrew, this would be a great time to buy a rent house. Prices are right and if the foreclosure projections are anywhere near accurate, a lot of people will be looking for rentals.
Andrew. Jerry is right on target. Lots of inventory to select from, prices are very attractive, interest rates are low and there should be good tenants looking for rentals over the next year or two. Let the tenant tote the note for you. Unlike the stock market - you will own something besides an empty file folder.