Hear ye! Hear ye! TJ for president in 2012!

Obviously, all the issues are complex. BUT, that being said, you're right in a simple way. My wife works in real estate and they specialize in foreclosures. They have been VERY busy to say the least. What's more, the first wave of foreclosures is almost over. Her broker just went to a seminar and found out that now that most of the first wave of foreclosures are sold/getting sold (literally for pennies on the dollar in some cases), the people that bought them, tried to do what they needed to, are now going broke because they thought the value would go up and didn't, are now losing them all over again. So get ready for the next wave. They expect to see just as many foreclosures during this wave as the last one.

The ray of sunshine here is that from the predictions of the housing market, it appears that things will start turning the corner in the spring of 2012.

Personally, living in Michigan, one of the states worst hit economically, I can see things turning the corner now. There's new industry, expanding industry and generally a better feel to things. Are we over the hump yet? Certainly not. And everyone knows that. But from my perspective, things are getting better. Ever so slowly, but better.

-G