[quote=temeculaguy]
I also read the financials daily and despite the horror stories, I was battling for the rent positive listings, buyers with cash are lined up, even in temecula, yet I never saw dead old men that hated yardwork, I wished I had but instead the cash rich folks were there. I waited and hoped they would stop coming but they never did, still haven’t.
You have until 2010 (or 2011 in premium areas) to get your downpayment and credit score together, that’s my prediction, when renting becomes more expensive than buying, the clock starts ticking.[/quote]
The cash rich folks are like zombies, no? They just keep coming. This debt bubble created an enormous amount of wealth that will take quite a while to bleed off. This process will happen slowly because there are various levels of defensiveness people are assuming, with the most defensive lasting the longest. The final equilibrium point is affected by at least three major factors: Bailout and foreclosure moratorium possibilities, how the labor market affects rental demand, and how the supply of rental houses affects prices.
