Affordability was at a 10-year high this February and March. It was a good time to buy a house. Right now prices are going up and interest rates are going up.

We may retest those affordability levels next winter.

Next spring buying season will be even stronger than today. This recession is going to end sometime this year, Obama’s stimulus will kick in, unemployment will be falling. People who defaulted in 06 and 07 will be eligible for FHA mortgages.