The economy is pretty much healed from the crunch caused by the sudden drop in the supply of money. Economists are saying that, "All the economy needs now is time."
Houses and inexpensive loans are readily available.
The best houses, those that people care about, are selling first. These are the homes of people who became over-extended, and are rational enough to know that they are over-extended. They are good people who want to do the right thing. These people are probably selling short, getting less for their home than the loan on the home. Buying a home from caring owners is worth the hassle you will go through as a buyer in a short sale.
Remember that responsible people who care about the home they are losing have taken care of the home in a responsible way. This is the kind of home you want to buy.
Eventually, the houses available are going to be the ones where the owner attitude is, "If I can not have this house, no one can have this house." Owners with anger issues can deliberately damage homes in such a manner that you do not discover the problems until too late.
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