You bring up a good point. “existing and planned humans” LOL! I have not heard much about it but it’s an interesting subject. How much demand is there?
I do believe the houses will be bought as the prices slide down, picking up buyers at each lower price point.
There is a group of folks out there now who believe today’s REO prices are good and they are tripping over each other to buy. They might quickly be exhausted when inventory finally comes to market. But there is a group behind them waiting for another 15% drop before they’ll jump in, and so on. As we know, knife catchers are not a new phenom, every bubble has them.
The numbers reported every month are depression numbers. I hear forclosures won’t even peak until 2011. My source for such dire news? Some guy I recognized at a bar said his friend knows someone who we should trust.
