Reply #7: well too many to count, so not sure of the exact number

[pitohui]

i spend a lot of time in las vegas, most of those who were going to lose their homes already have by this point but another friend just told me he's in trouble -- this particular guy i had no idea that he was in difficulties, i mean i knew he lost several million but i guess i just assumed there was more behind

the place is just plain overbuilt and people who bought in recent years way overpaid for their homes, so i don't know what they can do other than walk away and start over

what do you think should be done about it? the market is just priced too high for people with normal incomes, and providing price supports to people who bought at the market's peak would mean that younger people/lower income people would never be able to buy homes in future -- i'm not sure what else there is to be done, other than what already is being done, such as bank bail-outs, tax benefits/breaks to new home buyers etc

the price of these homes simply has to come down, but the people who bought a $130,000 house for $600,000 in 2004 are going to lose no matter what, hell, most of them already have