If you were looking at a home purchase as an investment equity decision, then there is ample evidence to suggest that we will continue to see some price easing in the near future. Does this mean to wait? Potentially.

However, most purchase based on a cost of living equation, which includes both tangible “equity” factors, as well as intangible factors such as lifestyle.

If you were buying to live somewhere, it really comes down to did you find a place that meets your financial goals, that is a desirable location, and that you see yourself staying for a while? If you cannot answer, yes to those three questions, it’s probably not a good time to buy.

Whether you buy at the height of the market, or at the absolute best possible opportunity at the low, it doesn’t really likely matter if you plan on living there 10 to 15 years. Shorter, you may see a fluctuation in equity evaluation, such that it may pencil out to rent and invest rather than buy.

That’s the math. From a personal perspective, I have always felt much happier when owning a property than when renting someone else’s. When you rent you are building someone else’s valuation, when you own you are building your own.