For those home buyers who see no light at the end of the tunnel, here's a high beam to brighten your way. The economy is so bad, you'll soon be able to pick homes up for a song.

We're in a perfect storm of bad economic news. When that happens, people panic, and sell their assets believing this is their last chance to get out. But others, who know that you make money when you buy, are scanning the chaos for bargains.

Here's a snapshot of what's happening:

• Jobless claims are up to 2004 levels.

• Oil prices have hit all-time highs of $115 per barrel.

• Energy prices for March rose 1.9%, says the Labor Department.

• New home construction is down to 1991 levels.

• Inflation for 2007 was really four percent, well above the comfort level of the Federal Reserve, causing consumers to pull back on their spending for nonessentials.

• The Beige Book, a report from the 12 Federal Reserve regional banks, says conditions are weakening across the U.S. and housing shows little to no sign of improvement.

• Pressuring all housing are escalating foreclosure filings, up five percent in March from February and 57 percent above 2006, according to RealtyTrac.

The good news for the economy is slight, but it's there. The Conference Board predicts future economic activity to rise as it did 0.1 percent in March.

A faint turnaround in housing is also in the air. Housing costs rose four-tenths of a percent, and rents rose two-tenths of a percent.

The Federal Reserve could act to temper interest rates, by cutting short term rates again when the committee meets on April 29 and 30.

What that means is that home buyers could be seeing their best interest rates in the next week, if signs of inflation don't get worse.

Interest rates are currently below six percent. Rising home inventories, and lower prices once again give buyers the trifecta.

Remember to lock in a low rate, you have to apply. Get your approval from the bank and then lock when you think the time is right. For those home buyers who see no light at the end of the tunnel

Published: April 18, 2008

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Blanche is a renowned author of five real estate books. Her newest, Bubbles, Booms and Busts: Make Money In Any Real Estate Market, McGraw-Hill, was rave-reviewed by The New York Times. She was also selected from hundreds of real estate experts to contribute to Donald Trump's book, Trump: The Best Real Estate Advice I Ever Received: 100 Top Experts Share Their Strategies, Rutledge Hill Press, and is featured on page 68. Order Now Review - Honors In 2006, Blanche was selected among scores of candidates to author two consumer real estate guidebooks for the National Association of Realtors: The NAR Guide to Home Buying, and The NAR Guide to Home Selling, Wiley & Sons. She is currently planning two new books for the NAR and its members.       Known for her keen insight into real estate industry issues and for her ability to make complex subjects easy to understand, Blanche is a sought-after keynote and continuing education speaker. Real estate organizations from MLSs, to brokerages, to franchisors, to associations hire her to provide up-to-the-minute analysis of real estate industry news and advice on how to improve revenues. Her passionate delivery, peppered with stinging wit, is a huge hit with audiences and fans. Don Klein, CEO Greater Nashville Association of Realtors, Blanche Evans, Richard Courtney, president 2007, GRAR "The GNAR membership meeting last week featured Blanche Evans as the keynote speaker. Her comments and insights resonated extremely well with those in attendance and we have had many requests for copies of her PowerPoint Presentation. She was a terrific part of the membership meeting and convention program!" - Don Klein, CEO Greater Nashville Association of Realtors Coverage from WSMV, Nashville - 8-14-2007 That Interview Guy - Get Inside The Head Of Today's Generation 2007 AE Institute Session - To purchase 2006 AE Institute Session - Parts 1 2 3 4 5 6 7 8 9 HouseValues Mastermind call - Parts 1 2 Blanche's fireside chat with Jeremy Conaway, HAR - Click here. For more articles by Blanche, click here.