i'not sure how selling in a depressed market to buy in a depressed market makes any sense.

If anything, that may depress rents in the area, unless vacancies are very low.

but not sure.that market up there was REALLY depressed when i lived up there.

My girlfriend however, has been diagnosed with depression and anxiety and her doctor sugested that it would be extremly beneficial if we could get a pet (like a cat or small dog) because of all the benefits it provides to people who suffer from depression and anxiety.

Ask yourself what would happen if China wanted to collect on it's debt: oil over $200/barrel, depression, and a complete bankrupting of the nation.

That's not much, but with property values depressed, I hope to aquire equity mainly through appreciation over the years.Here are my questions...for now :)1.

I am in a very stagnant (maybe even depressed market).

Instead, we are now getting moved to another State and have the property to sell in order to try and do anything reasonable at the new location.The area here is very depressed, lots of homes on the market and our place is higher than most and of course we have a high mortgages balance/payment.We recently had a couple come through that might be interested if we can swing a deal for them where they purchase a portion of the property (5 acres), with the house/pond on it for say $210,000; and we could do a land contract on the balance of the land, a little over 11 acres with little down and monthly payments.Their overall goal is to put as little down as possible, using his VA benefit, and I'm not sure they have more to invest anyway.The problem is I'll still end up with a lot of unpaid mortgage to carry with no real way to pay it off; although I guess I could re-fi the overall mortgage which of course will be 50 to 70K for a smaller payment as opposed to having payments based on 260K from the original mortgage.We leave here in 2 weeks and are getting a little nervous about all of this.

I think it's amazing how the economy works and I also think people need to realize that a 'recession' does not equal a 'depression' does not equal 'end of the world' It's actually quite uplifting to read so many threads about how people still make a decent buck in this market even though the housing market isn't as great as it has been in the past.

He had been hoping to buy after prices fall even more. (2 rentals plus his home)With the economy being what it is, he is concerned about banks failing and losing half or more of his money to runs on the banks, a recession/depression, and possibly losing that house unless it IS paid off, so is thinking of paying the mortgage off.