In Oregon we're off to a pretty poor start... about 1/2 of last year, which was no great year either.

I talked to a friend yesterday who travels around to about a half dozen areas and finds investment properties for his clients. He says it's like night and day from one area to another. In some areas if the properties are too expensive for the rent they draw the investors just go elsewhere. Then factor in the lending crunch which excludes a lot of would-be first time buyers and over 1/2 of the potential biz is gone.

That's pretty much what I've seen around here lately - mostly downsizers or people moving for work. Still the occaisional investor or first-timer but nothing like before.

I've heard 09 before it gets any better too... I don't really know how anyone can predict it though. It's really just all speculative and will probably change as we get closer.