” I truly believe that foreclosures will have a good chance of being overlooked in the future. The system will NEED home buyers. Even if that doesn’t happen, there will be ways to get back in to homes.”
I agree with you 100%.
Also, excellent advice on the cost of holding on vs. the advantages of letting go. Generally, it’s better to let go and start anew.
I expect to see good houses go to back to $120/sf. Even at $500,000, relatively few can afford the holding costs of such a mortgage. Houses in Las Vegas and Florida are now $350,000 and foreclosures are colapsing the market.
