Sure, the inner city areas are more affected, but that doesn’t mean that there aren’t good deals (generally handled via short sales) to be had right now in better areas. Not necessarily the wealthiest towns, but not areas where you’ll get shot after dark either. Think Morristown, a western suburb of NYC, or Hightstown near Princeton.

Please refrain from personal attacks — they add nothing to your argument. And maybe you should do some more surfing or something; it may improve your sunny disposition.