I would agree…Although there are tax breaks involved with owning a home you would be better served holding off for now. Learn about how you can take advantage of the upcoming downturn in the market. The next couple of years will provide really good opportunities for people if they play thier cards right. To be specific, save as much cash as you can. You may find that by saving cash now, then getting a great deal in a few years, that you will be VERY well positioned for the future.