Thanks, sdmove, and good luck to you as well! No, we cannot get even a loan from our parents – in fact, we send every month a few hundred bucks to THEM.

It depends on the area. Some have relative little inventory for the price range we are looking for – and it’s hard to say if the prices are going down, but they are certainly not going up. Recently I’ve noticed more inventory coming on the market, but it increases ever so slowly. Like watching the water boil, LOL.

So I also believe in that the prices will decrease, but the big unknown is the rates. For all I know the feds will keep the rates constant for another year or two because the recovery is weak.

Anybody else thinks that it’s best to wait to save cash for 20% down, rather than borrow from 401K?