Is that they after picture of urban renewal? 
Good luck! Now is the time to buy. Many people are waiting for the bottom, and I think we have hit it. With mortgage rates so low, demand is going to pick up again. Sadly, I think the feds over did it again, so unless the government stops monkeying with the system (unlikely given the current administration), it is going to be another bust, and this one quicker as they are drying up the credit as fast as they are making it.