Mortgage rates are still close to their historic lows! People with decent credit and 20% down can finally qualify again! First time buyers have until November 30th to close on a house, to still get the $8,000 tax credit! Prices have come down significantly, and their are plenty of choices!
So we should all agree that we have finally reached a classic BUYERS MARKET! Most experts believe house prices are at or near their lows! Then, why aren't more people taking advantage of this? My best guess is that it is FEAR, and not feeling comfortable with the overall U.S. economy.
All things being considered, however, we are closest to a GREAT buying opportunity in this generation.