The hits keep coming

[Ken Hughes]

Walkaways are going to continue to grow. It's going to be an interesting year. Lenders will have to quit fighting investors and welcome them with open arms or there is going to be alot more carnage before this thing bottoms out, at least in the worst bubble states.

http://www.cnbc.com/id/34826290?__source=RSS*blog*&par=RSS

[Bienes Raices]

Originally posted by Tim Wieneke:

Bienes, I'm waiting for the day for 5-8k homes in Orlando and I know it's going to happen. It won't be the McMansions but it will be the reliable little rentals. Basically yearly property taxes times 2-3 is what the "bottom" of a market seems to be.

Tim, I'm certainly not a seasoned investor, but I don't think that's going to happen; even in the worst neighborhoods here I don't know if I've seen anything for less than 20K. Unless you're talking about condos?

I only know about the segment of the market that's 80K or below, because that's what I look at, but they do seem to be moving fast here now when the bank prices them right.