Originally Posted by Demise

So was I but this is basically what happens.

Crash happens.
Prices initially go down as homeowners are forced to vacate, are foreclosed upon etc.
Prices bounce back up when the houses are bought up with whoever has the money. So while you're talking about getting a mortgage at a bank (which is another issue since banks will severely limit their lending until things go back to normal), Mr. Investor can just wire whatever price the house is listed on and sit on it until prices bounce back up.


Now, I'm not saying that you won't be able to get a house on the cheap in Donkey Dick, WV, but if you're in a major city those houses will sell and they'll sell fast.