I look at it this way: the longer I wait the nicer the house I can afford becomes. Whatever happens to the market, I’m going to be looking in the 700-850k range. Last year when I started posting that meant a 2400 sq ft North county house built around 1998 or so. Now that money buys 3000+ sq ft built in 2004+. I will be buying in the Spring. Why? Because I need to, and if my fingers get a little bit bloody I’m willing to accept it if I find a home I’m happy to retire in. Besides, I’m an Obstetrician, I’m used to bloody fingers.

I guess the bottom line is, you buy when you feel it’s time to buy. I posted in another thread a few days ago that taking a small depreciation on real estate may come to be viewed as more or less normal. Waiting until the “perfect” time may prove to be impossible.