Personally, and you'll find many who disagree, I think a house your live in is a liability, not an asset.

I was just referred to an Asset Manager.

Okay, now that prices have fallen by as much as they have, do you feel that the local property taxing authorities have adjusted their assessed values as quickly downward as they did when prices going up.

Sure, sell enough of the other assets you bought with these funds to pay it off.

Buyers have the 3 items needed great credit, verifiable income and assets reserves.

But, since I don't think a depression will happen and our society is not about to break down, I am still buying properties not disposing of them and keeping my cash securely in banks and brokerages.Anyone chanting the end of our financial system is near while still holding an asset like real estate or stocks is just blowing smoke.

I'm curious how much of the 700 B is actually going towards purchasing these distressed assets?

x2 Joshua's summary of the situation.A lot of the problem is the "mark to market" accounting method that is currently devaluing long term assets.

Any good ideas about how to find a list of who has assets here in Georgia?

I will take that to heart and try to be an asset to this site.Thank you again.