According to the National Association of Realtors we have a 6.6 month supply of homes priced under 240K. Homes priced at or over a million dollars 20.5 months supply. So the question begs to be asked, are we in or just out of a recession, in a buyers market or both? My favorite market is the buyer's and we are smack dab in the middle of the mother of all buyer's markets. 

The problem is credit has tightened and negative inventory has swollen to epic proportions so like the adage goes, cash is king and in the right hands it does compel people to do many things including accepting your offer to purchase. I think there are many valuable lessons to be learned as we emerge from this recession, don't overbuy. There is nothing worse than being house rich and cash poor. Spend your money wisely. Invest with confidence in our country our indomitable spirit will bring us all back.