The housing market has sunk and the financial market is on the verge of collapse, jobs are scares, and we have an administration racing to see how fast they can bankrupt us, these are strange days indeed. However, people still want to own homes, people still want to invest and be prosperous, so how do we do that when banks arent lending and we will soon be handing all our profits over to the government?
One answer is that if you plan to buy a home to live there and raise a family there, maybe stay there for ten years or more, and your life is stable in that sense, its okay for those people to buy a home, those with a long term plan. Keeping in mind that your home will probable loose value for several years, but if you're there for the long term you can ride out the storm.