I don’t think falling RE price will prevent me from buying when monthly mortgage is = rent. That’s my buying point for my primary resident. Even if it keep falling for another 15 years, by then, I’ll have a house, free and clear, and hopefully enough money to start considering retiring, or at least semi-retire. Personally, it would not be very wise to time for the bottom, because at a certain point before the bottom, rent will be more expensive than buying. At that time if you rent, you’ll be waisting money and time. So if it takes 15 years to hit the bottom and turn back up, you might have lost many years to pay off your house at a rate that’s cheaper than rent.