The issue here is that consumers just don't have the confidence in the economy to risk making big purchases, like homes. In this economy people are worried about their jobs and our nations financial health, and they worry if they did lose their job - could they get another one.

The problem can't be with a lack of funding for loans, as there are some great loan packages out there right now, and with very low interest rates (like 5.5% fixed). Lots of ways to finance a home, plus there's the $8k new home buyer credit that is still available (providing you can close in a hurry).

The "move-up" buyer is not in the marketplace, either. Once the economy improves, people may feel comfortable enough to sell one home and move up in price/quality of their home. THIS is what makes the real estate market work, IMO.

fishpolelease: Congrats on the sale! I agree though, as 10% under assessment is a big hit. Still, as said there are some superb buys available out there ( including my house), so if you do decide to buy a home there is a LOT to choose from.

http://www.piscatorialpursuits.com/forum/ubbthreads.php/topics/513095/Outstanding_Salmon_hole_on_the

Mike