Thats up to you but if you could get it at 350K w/ 20% down your loan is 280K. At todays rates thats about $1400 per month add your 350/month and you are at rental value without factoring in tax benefit.

If you were truly interested in buying it as a long term home that is how you would purchase it not as an FHA buyer as you have the means to (at least I think you do). In that case, it could make sense at 350K or higher when you consider tax benefits. Plus the gubment gonna give you $8K this year which would cover all your closing costs.

Of course, if it is more of an investment decision the cash flow would be more than offset by the expectation of lower prices to come.

Keep waiting or get on with living. Thats your choice. I’m stuck thinking about all this nonsense all day. Someday I hope you dont have to anymore.