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re housing existing homes


here in orlando, sales were down month to month 22%, inventory went up 3%, prices are droping 3% per month. So basically there is no end in sight for price reductions. The prices are now at December 2004 level(15% are dropping prices every 2 weeks). So all those that bought since then, have a deficit on there homes. Lots refi and home equity loans pulling out all there equity. So this may be get worse as people walk away from their homes down here. Great time to buy a home and retire again down here. People are keeping up their credit card payments before they pay their house payment.