However; in a state like California there are many areas (far northern California and valleys) that are so depressed it will be 10 years before they start to grow, and that may be optimistic.

You are all depressing me: As it turns out I am currently paying $1300/month to share 2 bed apartment in Park Slope, Brooklyn.

The large banks and investment firms have managed to get a handle on their inventory and they do not flood the market depressing prices but instead have what I like to refer to as a controlled drip.

Even with today's depressed prices the NY city market is hard to enter without substantial cash.

Certainly, some areas are more depressed than others, but if you offer a quality, well priced unit, you minimize the downtime.

SHORT SALES AND SLOW LENDERS.ha ha haShort sales, slow lenders and severely depressed sellers drove me to take a year off from real estate sales.

lowball offers like that won't see the light of day (in a semi-decent market).in depressed markets - do whatever you think will ultimately get you in the door, to contract and to closing.

Can't tell you how many times I've seen that scenario on TV.Just remember, during the "great depression" some industries and business had record sales and profits and a lot of people became millionaires.all cash

Even during the Great Depression it was not that high.None of the above is meant to mean there are no deals out there.

Former Federal Reserve Board Member Wayne Angel said today that the housing market decline will be the worst since the great depression.