March 1 ’08 is a wee bit early but all the other stuff is a good idea. Wait until at *least* after the November elections in ’08. Our current administration is keeping the banks afloat so the banks aren’t in a hurry to sell their inventory of foreclosed homes. If the fed stops injecting money to keep the banks afloat, the banks will have no choice but to dump their inventory– currently over 13.5 million homes– meaning prices will cliffdive.
If you have cash and good credit you are in a good position to increase your wealth scooping up rentals in the aftermath of the bomb. Once the cost of renting approximates the cost of buying, I’ll *start* looking. Definitely wait until after the elections ‘cuz then you get a better idea of what the next 4 years might hold. Anything before that and you’re flyin’ blind.
