Andy, you have given me a better understanding of lending practices I agree timing the real estate market is like trying to time the stock market. It is generally a mistake .With income property it is more of a gut feeling, interest rates are at historic lows. Tons of real estate on the market priced to sell. I think it is a pretty good time to buy real estate. I continued to buy in the stock market through the mess and am in recovery in more ways than one. If I happen to find the perfect real estate I will pick it up. Recovery hurts the people sitting on the sidelines waiting for the perfect time.