Let's hope for the best and that housing prices will fall in line with wages and rent so more young inexperienced buyers will not be underwater in a year or two when the governor and Obama stop subsidizing home builders and the with stupid tax credits and the prices fall. Hopefully the Fed will come to its senses soon and raise interest rates up to 8 or 9 percent so people stop getting themselves in trouble. IT IS STILL A HORRIBLE TIME TO BUY if you aren't sure you will be in your home for 15 years. Interest rates will fall once the banks have cushion and start putting money back into the economy. The Feds will raise rates to finance all the pork, and a large percentage of home buyers will be way underwater. Rent is historically cheap right now and home prices are high. The intrinsic value of home ownership didn't change. Most of the builders need to find new occupations because we have to many of them and too many homes. Empty homes all over the place. We need proces to fall in line with wages so people can afford them - WITHOUT subsidies!