[Texas Eagle]

Fewer lenders means many potential homebuyers will find it more difficult to get credit, while hundreds of thousands of homes will go up for sale as borrowers default, further swamping a stalled market.

Hah? The only thing that will happen is that hundreds of thousands of homes will sell for lower prices. The banks have already collected hundreds of millions of dollars in interest on these same homes.

It's going to be a buyer's market, baby.

[SauronOfMordor]

The only thing that will happen is that hundreds of thousands of homes will sell for lower prices.

If the current market prices for homes drop below their outstanding mortgage amounts, the banks are in trouble. It will also be interesting if more and more people who need to move discover that the prices they can get for selling their homes have dropped below their mortgages

[sine_nomine]

It is already a buyer's market in Phoenix. Many home builders have let their crews go. They are unloading homes for bargain prices - incentives as high as $50k.

I know a couple who bought a home in Phoenix after selling their old home. They used a lot of their equity to buy three cars. Pretty soon the lender was phoning me, asking about them. He wasn't getting his money. My guess was that foreclosure was not far away either.

[FastCoyote]

"It's going to be a buyer's market, baby."

I got money to buy, just waiting to see where the bottom will be.

[meyer]

It's going to be a buyer's market, baby.

Yep! It's times like this that liquidity is your friend.

[DCPatriot]

It's going to be a buyer's market, baby.

Re-distribution of wealth on a grand scale.....