BAD MARKET OR BAD SITUATION?
With housing prices at record lows, people can truly have a mortgage payment that is less than their rent payment. Young couples and families can actually afford to buy a home. If you're a real estate investor, there couldn't be a better market.
If someone is in a bad situation like being upside down on their home or if they are facing foreclosure. More than likely they will tell you how bad the market is.
So is it a bad market? I guess it depends on who you ask and what their situation is.