[AJackson]

I'm far from being an expert, but I am a fairly busy home builder. Luckily my market never saw a big jump in house prices so sales have remained stable.

From my perspective the guys that are going to take the hit are those that were making and buying up these subprime loans, which I understand a lot of hedge funds were doing. A lot of people are going to have ruined credit, but they will still need places to live.

I think, in the end, this will have a minor inpact on the economy over the next two years.

As far as who will buy these foreclosed home, they will sell. For how much is the question. The loan companies can't hold them, so they have to sell them at auction for whatever they can get. I've put some time and thought into getting into this if the prices do fall. With a decent credit line a guy could buy a ton of property and just rent it out. There would be decent equity from the start and that would just grow as the market comes back. If I'm buying for 70 cents on the dollar, I could easily be renting to the same level of customer who previously owned the house for a price they could now afford.

Bottom line, people have to live somewhere. Homes and apartments weren't sitting empty because people were getting loans for bigger houses. The easy loans just meant those who would normal rent were buying and others were jumping up a level or two. Now a bunch of them will be back to renting.

As far as the general economy goes this is a blow, but I'm much more concerned about the value of the dollar and the impact that will have.