Only 10 to 20% of the US investors have been successful in selling off their costly properties in the last two years. These people have been reluctant to offer anything more than 20% discount to their purchase price.
And in the coming months most of the balance 80% of the troubled home owners, might come into the market, to sell at distress rates. That could swell the re-sale home supplies which in turn could pull down the mortgage market as a whole. And US FED tightening the interest rates could be the last nail on the coffin. So wait till 2010 beginning to put your hard earned money into US property market.