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Based on:
Quarter Change Real GDP
Q4 2007 1.5%
Q1 2008 0.0%
Q2 2008 -1.0%
Q3 2008 -1.0%
Q4 2008 0.5%
(From http://calculatedrisk.blogspot.com/2008/01/more-on-goldman-recession-call.html )
Q4 2008 should be a good time to buy, if you are paying much of the price without a mortgage.