In our area we have 7 schools closing in one county and that speaks to people have not only foreclosed buy they moved out of the area. I think it is so hard to find a job that pays enough to purchase a median price home. That was until recently and now I see house values down and purchasing homes is reduced and interest rates good and if you qualify this is a great time to buy. I have do believe this area will rebound but things like shool closures are making people as nervous as the media doom and gloom reports. I hope people will look thru all the reports and meet with a lender and see in there case is it a viable option and then start the house search.