http://finance.yahoo.com/real-estate/art...realestate-buy]

I'll take a $150,000 house for $1 down.

Get the government out of the housing market and things like this will stop and the market will rebound pretty quickly.

I just paid my mortgage off a couple of weeks ago. I'm getting off this amusement ride until I retire.

This is were it all started, people putting little or no money
down on a house they can't affoard in the frist place. Then
if you can't pay your mortgage you just walk away, just like
renting. If you don't have anything invested up front it's
nothing more then renting in most peoples minds. Put 10 to 20%
down then you'll try to make it work.

Im trying to convincethe wife to sell our home, pay off what little there is...buy another for half what we get, cash, pocket the rest for the raniy days coming = retirement

The only smart thing I did was to sell my house 6 months before the collapse. Has not regain it's resale value yet!

I believe that 100 percent. Had a coworkers daughter and husband bought a $250K house in Florida for no money down. The developer "gave" them 25K in equity. Well you guessed less than 2 years later they loss the house to foreclosure. This is what happens when people buy things they cant afford, and the government wants to make sure no one is disenfranchised and has their chance at the American dream.

P.S. $250K did not even include an electric garage door opener. My friend bought one and installed it for them.

$250K didn't get you much a couple years ago. It was like buying a new car. Only the necessities were included. Anything that could be remotely considered lavish, such as tile or wood flooring (which was a cheap laminate)came with a huge mark up.

and to think of it , my first house in a 'nice' neighborhood in Houston, I paid $13,400 for in 1970! lol

but of course cars were $1500-3000