You need to sit back watch the prices plummet. Seriously, any tax advantages will pale in comparison to the price declines. That is about as certain as it can get. Don’t let your emotions or a realtor fool you!
As you’re sitting back and enjoying what a good decision you made by waiting, you can calculate how much more home you can buy with each passing month and while you are at it, pray to god the financial institutions don’t completely destroy the country.
