That's totally untrue because

from my market observation, regular people simply did not understand the great pay off to find great REO deals. They did not participate in the game. All they read is daily news feed that scares them to death. So they wait for a "better day" to come. But investors understand what is a deal and what is not a deal. They are taking actions on selected deals in selected areas. What's the difference between a good investor and a regular guy? Answer: investor have the know-how to take actions.