Bad economy then what?

Yep, right now the economy looks not so bright, housing plumb combined with higher unemployment rate and high gas price. Just bad.

However there will always be good thing in almost any condition. Back in 2000 when all the rich people got crazy with their greed and keeps pouring money into the startups, a lot of engineers got great salaries with that. The people who keep a cool head and shorted the stocks can make a lot of money even if they are poor (of course I never encourage shorting stocks, that is just bad).

Now we are in a situation similar. People who has a lot of money (banks, investment firms) made huge mistakes by been too greedy and now their lose could be your gain. Some foreclosed houses are just a bargain. Their loss can be your gain, if you have the smarts and guts to catch it.