4spb– Fall/Winter will generally be the best time to buy until things turn around, so if you can only wait until 2008, then at least wait until the fall, lest you find yourself kicking yourself in the head.
Sure, you’ll probably still be kicking yourself in 2009, but at least you’ll have a chance at 8-months or so of happiness.
That’s about the best I can offer you (although I’ve *heard* you can actually rent houses in 4S Ranch). Crazy, eh?