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To: Ilaine who wrote (82151)	3/18/2001 6:10:08 PM
From: chic_hearne	Read Replies (1) \| Respond to of 436258

You left out the "sell to whom?" factor. When the housing market is weak, banks don't foreclose because there is no market. Banks don't want to own houses. Do they have a choice when people file bankruptcy? What's the percentage of foreclosures that also involve a bankruptcy filing? My guess is it would be pretty high. People usually dig themselves in a huge hole by the time the bank starts to ask what's going on. Selling your house is last resort for most, as with filing bankruptcy.

To: Ilaine who wrote (82151)	3/18/2001 9:24:06 PM
From: posthumousone	Read Replies (4) \| Respond to of 436258

You left out the "sell to whom?" factor. When the housing market is weak, banks don't foreclose because there is no market. Banks don't want to own houses. >>>>>>>>>>> Can you expound on this? Does this mean people keep their houses? I am a first time potential home buyer in 100% cash thanks to this thread : ) I am tempted to buy, especially with rates going lower. However I can wait 6-12 months. I have never witnessed foreclosures. This may sound stupid but where do people go when they lose their houses? Dont they just go to smaller houses? Dont they just file bankruptcy and get to keep it all? Any advise on timing? FWIW..Ive been looking for 4 months and I have seen that no one is paying the list price. About $4-5K less. Im not sure if this due to weak winter selling. This will be the first time ive paid attention to housing prices in the more buyer friendly time of spring and summer.