Given the sheer number of NODs and foreclosures, I would think waiting beyond even winter is a good idea. Factor in the number of upcoming resets in early to mid-2008 and it looks to get far, far worse.
Or am I missing something here?
Yes. Typical scenario:
Wife wants a place to nest. She doesn’t care what a new house costs. Husband probably is the main breadwinner and may even understand that buying real estate in this market at this time is a poor idea. However, husband’s ba**s are in wife’s purse.
