cyphire, I agree with you, prices are heading way, way down. I don’t have a crystal ball either but, like you, I won’t buy for at least two more years. And even then I won’t buy until I feel we’re reached a sustainable level.

Still I wonder, since you learned your lesson in the tech bubble, why did you buy a house in 2004 to sell it at a loss in 2006. Two years is barely enough to settle in and get everything the way you want it.

I was around in the 1990s and I remember the downturn. I would never buy an overpriced house to live in. I may however buy a house to flip if I got a good deal.