[SauronOfMordor]

When the forclosures start it's going to generate into a landslide.

It's going to be interesting. As more middle-class people go 6+ months unemployed, they will find it harder to meet mortgage payments. The first ones to get out will be able to get prices exceeding their outstanding mortgages, but the later ones won't. With too many houses on the market, the banks will have to sell for whatever they can get -- renting it out until the market improves only works if you have somebody competent on top of things to make sure that the tenants dont trash the place.

[B4Ranch]

I have a house across the street from me that rents in the neighborhood of $1400 a month. It has been vacant for the past five months. I don't know if it is payed off or if the owner is still paying to a mortgage company. To me it looks like a $250,000 piece of property that is not producing any income at all, only costs, ie. taxes and maintenance.