GN and Perry, you are both right, dropping values will continue as will rents. I have a unique situation with needing to be in a specific shool boundary which contains no apartments so the rental market is tight with the few sfr’s for rent. I am hesitant to enter into a new one year lease and have about six months to decide on a new lease or buy. I just looked at a brand new 2800 sq ft where I want it to be for 400k with all the upgrades(down from 500k last year) and comparable rent would be 2k and a new 1900 sq ft for 330k where comparable rent would be 1700. While I think S.D. has a year or two to unwind, here in the outskirts it is in full swing and the rent to buy numbers get closer every day. At this point in time there is still a gap in the specific place I need to be but when those numbers meet in the middle I will pull the trigger, I am not in it to get rich, just pay a fair price and have a comfortable conventional mortgage, I think that is all anyone can ask for. A year ago this is what I was hoping for, now that is has come down I am a little greedy for more but if it comes down another 50k on both examples above I doubt I’ll be able to hold off.