Yes, that's right! I said it!! NOW is the time to BUY houses! People are scared right now because the Media is so negative and every channel you turn on reminds you of that and every news paper you pick up has it all over the front page. But, what people are failing to realize is that rates are still ultimately at a historic low rate! Now I know they aren't as good as they were a couple years ago...and really may never be again. But, in all reality the rates are still stable and are still in good shape.
Now taking that into consideration, the Market has never stayed high or has never stayed low. It's constantly moving. But, at a time like this it's a buyers market. So if you think about it, you buy a home right now for a low price (many times under fair market value) at a still very reasonable rate. In just a few months/years... rates will fall. So, you own the home and you refinance when rates fall (many times for no cost to you!). You save money on interest which helps you pay the mortgage off quicker. But, don't forget that when Rates fall... more homes sell which means it costs more to buy them. Now all of a sudden you own a home with much higher value, your paying less money for it and ultimately you've WON!!!! You just made money!!!
Don't let the Media fool you!! Right now is a safe and a great time to buy homes!!!