I do not think the market will plunge 50% like many on this list, and I did buy a house this year. Disclaimer: it was right for my situation, not in general, and I am not telling anyone on this to buy!
I would still recommend you do not buy for the following reasons:
1. You need a time frame of at least 7 years, probably 10. If you are leaving in 2-3 years, you will incur a loss.
2. You definitely want to get familiar with the area, especially the traffic patterns and neighborhood demographics. I would rent for at least another year. Make some friends at work, check out some neighborhoods.
Don’t be in a rush to buy anything. Prices are not headed up, and neither are interest rates in the near term.
