If you wait for everyone to go bankrupt you may as well buy in Mojave. At least you can afford plenty of tinfoil with the money you save.
~ cue Erik Estrada~
"Get your piece of California real estate...in California City!!!" ;)
"If you wait for everyone to go bankrupt you may as well buy in Mojave"
Yeah, that's *exactly* my plan...wait until EVERYONE is bankrupt, that or wait until everyone is dead and then I'll just walk over and claim the property.
/sarcasm off/
Houses in many markets - the 'desireable markets' - are overpriced. They may not be making any more land, but they're making more houses. Soon - sometime within the next four years - the bubble is going to burst, the new bankrupcy laws will kick in, and bargains will be had.
Does any of that not make sense?