Posted by chris on May 27, 2000 at 12:09:02:
Donna-
Some possibilities would be the lack of competition and the people who cannot buy will rent. If every other investor is thinking what you state in your post and they go away that leaves you as one of the few to make an offer on the property. Think of the stories about the investors who bought properties and stock for pennies on the dollar back when the Great Depression hit and waited for the upturn. A lender may also be more lenient hoping for payments instead of another case of someone handing them the keys.
If you are looking at a property that meets this situation you may want to place a clause in your offer making it contingent on finding a suitable tenant.
There are other openings for you, but this is what comes to mind for me at this time.
-Good Luck,Chris