Yes The Fed's lowered the Rate - Now what?

Rates are great, selection is great - Is it time to buy your first home?  Maybe.  Home ownership is a long term investment.  Only in the last few years, was real estate viewed as a vehicle to earn more than your wages in a year.  Unfortunately, that has only happen twice in our market.  Once in the 70's and once this past 2005.  Real estate jumped so fast that first time buyers were priced out of the market - yes, our wages did not double, so housing became unafforadable.  Well, the increased pricing could not hold.  So, pricing has decreased.  There are lots of houses on the market (but yes, we have started to move the other direction, and inventory has decreased for the last three weeks).  If you are renting - you are paying someone elese property off for them - that in itself should be enough reason to become a first time home owner.  But some of the other reasons include, tax advantages, pride of ownership, the ability to improve your investment, and over the long term realize financial stability.