I tell ya ...

Were I of the mind to become a landlord, there's 4 or 5 houses in my neighborhood I'd pick up cheap, throw a coat of paint on, and rent. If you're in the market to buy a home (especially if it's a first home - just don't get in over your head), now's a good time to get serious. If you're handy, you could probably make a great deal on a fixer-upper*:

Sales of previously owned U.S. homes rose at their fastest pace in nearly six years in February, data showed on Monday, providing some good news for the recession hit-economy.

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"Our analysis shows that distressed homes typically are selling for 20 percent less than normal market price, and this naturally is drawing down the median price," said Lawrence Yun, NAR [National Association of Realtors] chief economist.

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*Heh ... Think about it. Heh ...

Thanks to Chris for the link.