Lot’s of good answers. Already I’ve learned some things I’ve not really considered lately.
I did not start this thread to flame those who are buying. The forum seemed a little slow so I thought this would get comments, and we all could learn some things.
Car talk and job creation is fun and timely but not the only thing worth talking about.
I read the news everyday (yes, mostly a waste of time). I don’t seek out bad news, it’s just what is out there. From reading (possibly too much) it seems we are certainly just at the start of this recession/depression.
Who could argue with someone saying they are buying because its what they want, they can afford it and they don’t care if prices go down another 20%? And yes, a home is different than a house sometimes, and that can make all the difference.
So no one is thinking that we will see an RTC2 type event? Is there any other choice to get these REOs and bad loans off the banks books?
I’ve read stories of people who bought at RTC1 auctions; absolute Gov. auctions ala-RTC are a far cry from REDC reserve auctions.
Does anyone disagree that the banks are insolvant?
