Developers are offering more discounts, the feds are extending aid and jobs are being lost. Add to that the fact that just about any major lender such as banks and similar institutions have stopped releasing cash into the market and you get a very ugly picture of times to come in real estates. Gone is the American Dream that a stable life is had with a house, a car and a job for most have none left.
As if to make things worse, the housing market is still on a slide and rock bottom prices are still going lower. Mortgages have had a little success in stabilizing yet that is merely a fraction of the good news we need for the market to rebound. Time will tell if the new administration will be able to pick up the pieces to put back together the shattered dreams of most people in the US.