I am asked all the time if now is a good time to buy. The answer is yes. But these are the facts. Since 1900, every Recession we have had has lasted an average of 13mos. With the exception of The Great Depression, and that lasted 15 months. The current Recession has already lasted longer than that. But it is also true, that if you are employed, and have the finances to pay closing cost and downpayment, it is a great time to buy. Prices are at an all time low, and will be rising in the near future, and your investment will increase in value. Many however are waiting because of fear, they might end up like many others, in Forclosure. It is my opion that you should believe in yourself. Go for it, if you meet all the requirements of getting a loan.