Karl Polanyi in his book "The Great Transformation," written in 1944, laid out the devastating consequences—the depressions, wars and totalitarianism—that grow out of a so-called self-regulated free market.

This will cause lenders to react, tighten credit, increase foreclosures, and depress the market further.

That said, I do hope that he and Bush can work together to prevent an echo of what happened during the transition period just before the Depression.

Impression without expression causes depression.

I know people have the buy low sell high idea about Michigan but how long can you hold something in such a depressed economy.

Dan,Michigan is in a depressed real estate market these days...

It can be depressing indeed being a landlord when you find yourself observing human wreckage day after day.

However, if you are in a depressed rural community, you may have a rough time.Deborah

i only put down about 2.5%, with about 2% for closing (this is all from my terrible memory). i rehabbed it for around $12,000, and it was appraised for $117,000 (had it in the paper for 3 days, and got a full price offer on it -it fell through, and the rest is a long depressing story).

I"m located near Johnstown. it's a very depressing area.