I was at a real estate conference and heard this quote.  After I thought about it, it made more sense to me. 

It seems like most people who talk to me about their real estate on Hilton Head are waiting for the rain to stop.

We will likely be in a rough real estate market for the next three years.   

One out of 10 homeowners are in some kind of problem with their mortgage – I find this hard to comprehend.

I think we need to look at the present situation and make the best of it.  Many people are talking to their banks about loan modification.

Will the market return?  We have been through multiple recessions where values have gone down.

I think it is important to realize that the situation is not going to change in the short run and people who take advantage of the situation will be better off.