I fully agree with the main sentiment, that you should not try to time the market. Nobody foresaw the bubble, almost nobody foresaw the downturn, and quite certainly nobody knows then it will bottom out. If this could be known we’d all be multi millionaires by now and buy our own islands.

What you SHOULD concentrate on is finding equilibrium…and by that I mean buy when it makes sense to you. If you find the house you want, at a price you can afford, and are looking to LIVE there and not as an investment, then by all means go for it and enjoy it! Don’t worry about when is the right time or wrong time to buy, after all, nobody here will be making your mortgage payments but you.

There’s nothing wrong with delaying a purchase when prices are in a freefall like they are now, but don’t let the thought of another $10,000 savings hold off if you’re ready to buy.