Reply #2: Mm hm. [View All]

[magellan]

Great Depression II coming up.

It's hard to sell newly built homes when so many already occupied ones are being repossessed. In our zip code just outside Orlando there are over 400 homes in pre-foreclosure, 43 on auction and 43 bank-owned. And the trend in house value is down, down, down. This is not a good time to be buying a house in my area.

Things aren't bleak everywhere. But it's bad in enough places that the entire economy will continue to worsen and we will all suffer.

edit: lost word, spelling error