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Where I live, defaults are at 30%, and new home loans are down 50%, compared to the national average of 2%.
There are somewhere in the neighborhood of 38,000 homes on the market.
2 years ago, there was a waiting list for a home in this market.
I think now is a great time to buy, and you will get more home for less money, and it will increase in value when the market balances out.
JMO
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