If you play your cards right and get the houses just before foreclosure directly from the owners you can do OK in this market.
Depending on the location and the price ranges where you are I'd say that if you stayed under $125K (buy)right now you could still make some decent cash on a flip(sell at $200K). I know in some markets that does not leave much to be desired but you have to remember the market is changing and a lot of folks are downsizing right now.
Once the market starts to turn be ready with cash to steal the big houses back and ride the wave one more time. I have been in this business now for well over twenty years and I have seen this twice before. It will come back, be ready when it does and one or two deals can set you up really well.
Can you say 1031 exchange
