The most important question: Who were the select staff members that survived the February cleansing?

I survived, LOL!

The one who do are the same value add folks who bring you a handful of properties that meet your criteria before they hit MLS ... these are the agents which will survive ... and maybe do better.

I think what @Gerald Harris is talking about is the level 5 investor and median home price to rent ratio.

I got the smarmy impression that it is a slanted piece, and more of a, 'let me tell you what you should think' piece rather than the logic of the market.I follow economist Harry Dent, Jr who opines a learned and statistics based prediction that there will be a correction to 2006 levels, and maybe a severe correction to 1996 levels in the next 18 months, give or take a couple.http://www.harrydent.com/The stunned silence and mouth gapped open of us audience members was telling.There was a weak voice out of the midst, (not mine-I was at a pucker factor of 10) asked, "well what should we do?"

Many of us get in in a boom, get crucified in the bust and then learn how to survive both.It takes a full cycle not 30 years.

Originally posted by Harry M.: So it looks like rather than bidding up the price of the same house they would have bought w/ a 16% mortgage (though they did to some extent), people bought more house with the money the were saving.Indeed, that is a major factor.

- after we close the Great Deal, operation needs to be pretty much 100% hands-off while I'm overseas.My pockets are willingly deep - meaning I can make a substantial initial payment AND don't require cash flow (for my survival).

I don't get the opportunity to explain that 1) I'm not rich, just wise with my money and I need to buy houses at a wholesale price 2) Their house is not in retail shape so it makes it a perfect target for my company to come in and add life to its survivability in the economy 3) they learn a little about the importance of performing maintenance 4) I explain that although their property is x,y,z (nice, in a great neighborhood, built by their father....) it will take money to get it to x, y, z (code compliance, make income meet next years's tax bill, renovate a unit to attract better tenants etc...)

The guys that survived by me were the ones that had structures up/going up before it went bust, and could piecemeal lot sales out until the economy recovered.