No one is showing up at foreclosure auctions. At least that's the prospective of one foreclosure auctioneer working in Virginina. As reported in the Washington Post (the story is here), no one is paying much attention as the lonely auctioneer stands on the courthouse steps, reading the public sales notice.

From the article,

"As prices have fallen over the past few months and the number of foreclosed properties has increased, Crossley has seen the ranks of bidders dwindle and then disappear. The small-scale investors who used to show up for auctions -- the "regulars" -- stopped coming months ago. "They say they're already carrying too many properties," Crossley said. "

The whole story is here: http://www.washingtonpost.com/wp-dyn/content/article/2008/02/21/AR2008022102790.html?sub=new