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LOS ANGELES (AP) - Kurt Montufar isn't stressing over the housing slump. He's actually hoping things get worse. Like many wannabe homebuyers who were priced out of the market during the last boom, Montufar spends time these days scanning real estate ads and news reports to determine if it's time to take the plunge and buy.
Foreclosures rising? Great. Cash-strapped sellers pressured into lowering prices because they can't find buyers? Even better.
"Somebody else's misfortune could be my happy ending," said Montufar, 27, a resident of suburban Los Angeles.
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