buying now is a huge mistake, this is the time to be patient and resist the urge to follow the herd since there is a lot more to give. The CME Futures market is predicting 20% decline for LA through May 09, and these guys are conservative with their outlooks. My guess at least 25-30% drop through May 09 as the REOs hit the market and the Alt-As reset later this year. If you want to buy AT LEAST wait 12 months.