That thought is depressing, hence my interest in real estate as another avenue for financial growth and (possibly) not having to sit behind a desk for 9-12 hours a day at the same place on an income that somebody else thinks I should get just to go to bed, wake up and start again the next day.

Its so depressing and discouraging getting turned down for loans.

Here's a couple of my blog posts over on Quora:The real deal is that BEFORE a property is foreclosed it must go to a public auction to determine the Fair Market Value (FMV) and that's a Federal law passed by our congress just after the Great Depression.

I took a trip out to Grays about 9 months ago and even though there were properties where the math worked- the area is so economically depressed I didn't feel good about it.  

In fact the only way anyone has lost money on San Diego financed buy n hold residential real estate in the last 50+ years is they sold when it was depressed.  3) I have purchased twice near market highs. 

there is not a lot of industrial business in that area the largest being Saginaw and that is somewhat of a depressed Market with a large amount of subsidized living.

Alabama has a long post-foreclosure right of redemption, which depresses things.

If you work from home remotely you can buy cheap housing in the depressed towns.

Why Get Depressed?

This area has been depressed ever since 1980,and while there has been some recovery at times, it lags well behind the national average.