Me and my wife on two occasions were home shopping for something we could confortably afford and both times (a year apart) anything decent and in our price range was either sold within days or already sold . We could have bought something and stretched our wallets a bit but we figured that there was no way afford it if times got rough or if we hit a rough patch so to speak. Everything we wanted was just out of our price range . I thought of that as common sense . So here I am renting and hearing about how all these people who's homes are in forclosure because they got into a bad spot and the GOVERNMENT HAS TO STEP IN NOW ! 

-beerjet-

Welcome BTW !  I have been told that and I am . I am doing some other investing as well so hopefully some dough dough will flow my way when I'm ready to commit .

-beerjet-

  Spending money on your boat does NOT count as investing. 

  Try to save every penny you can, I think when all these forclosures realy hit the market prices will drop even more than now but good loans will not be easy to get !

They already have...http://www.realtybid.com/  Who do you blame more? The government for trying to bail out consumers who got shitty loans that WILL go into default...Or the government help out the Bank AFTER these loans go into default?  The problem is that if someone went out and bought a house 2 years ago at a higher rate and 2 years later they want to refinance at a lower rate but the gouse isn't worth as much as it was they can't refi. if it does appraise for what you bought it for you get to keep that loan...Kinda a catch-22....The banks are ALSO morons for writing a loan on anyone that could sign a piece of paper...By the same token if Luckie stiff tried to get a subprime loan today like he did back then he would be assed-out...My .02 cents...

Exactly! Like I said, I had some issues, I got in where I could and I fixed my issues, now I'm solid. I used the subprime loan for it's intended purpose, to get into a home, take care of business, and move on.