[quote=poorsaver]That would be nice, to finally see mid to upper priced homes come down out of the clouds. It’s still $300 to $500 a foot in my area. What I’m seeing though, as I posted in another thread, is very disturbing. A few people I know are living in million dollar homes for free. They just stopped paying their payments, and over a year later, have yet to receive any notices from their lenders. They’re buying new cars, going out to eat five times a week, etc. Really burns me. Anyway, I’m just a patient renter (paying my rent, btw) and hoping that someday the decent (mid-priced) houses will get back to year 2K pricing.[/quote]

Welcome to cesspool of reality. Where economic irresponsibility will be socialized and profits will be privatized (by the banks that is)…

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http://money.cnn.com/2009/04/15/real_estate/obama_mortgage_plan/index.htm?source=yahoo_quote

Obama launches mortgage modification plan
First participants in the Treasury Department’s program to help homeowners avoid foreclosure include some of the nation’s largest banks.
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Also, anyone want to take a crack at what the new conforming loan limit of $697k for SD will do? You think it will bring out more sidelined money?

Oh, it’s going to get very interesting very soon.