Homeownership will no longer be a reality for many people.
This doesn't mean that many people will not still be looking to or be able to live in a house. For the right investors, scooping up a REO property or other aggresively priced listing with the intent of collecting rental income may not be that bad of an idea.
Going forward the rental market should be fairly strong.
If you are interested in looking at the math (down payments, monthly payments and market rents) on any Rhode Island or Massachusetts properties, please contact me.
For the extreme bargain hunters, Benchmark Mortgage also has several mortgage options on distressed property.
There are even some options for the property that has more than 5 units.