Volatile Market, declining prices, foreclosures = A good time to buy?

Yeah, the whole hilarious sub-prime mortgage over there means American banks now have a surfeit of property on their hands which, if left vacant just gets vandalised and falls further in value so they're desperate to sell up. By all accounts you can get hold of reposesed property at criminally low prices at auction over there at the moment so if you have the cash it's probably a decent enough investment. Don't expect any banks to lend you the money though without a decent credit history and probably a sizeable deposit, they're not going to make that mistake again for at least two years...

Jam it back in, in the dark.

Also, if you're looking for a pure investment, buying land is a much better bet than property. Whilst property values fluctuate at the best of times and can sometimes get hammered, land will generally increase steadily in value, particularly with the current and future problems of population increase (More of a problem in the UK than the US, granted but still a valid point). In fact, some conspiracy theoriests are suggesting that the entire financial market collapse was engineered just to lower land prices. Believe what you will on that one...

There's nowhere I can't reach.