Sunny the bottom line is that yes if you are going to buy then yes it is best to plan for the worst case. That is, make sure you are going to be in the home many years, make sure you can afford it, etc etc etc. My original post was certainly not intended to make a recommendation to buy, simply to give a report from the battle lines so to speak.
jim I have no ties to the bank industry so if they say prepare the floodgates then so bet it, I guess we will see. You did see the new legislation recently passed in California pushing out the foreclosure timeline I assume.
As I said above, lets see what happens come July. Hopefully for those who have the patience things will get back to our regularly scheduled secular depreciation trend.
