[w_gibbs]

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Going to rehit this again since the papers have been full of bad RE news. Here is my take on the current environment:

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Tommy,

I am relocating and considering buying a house or renting for 6 months and then buying. I have been to the area and know the neighborhoods. Assuming I have good knowledge of the area and reasonableness of prices relative to other homes, do you think now is a good time to buy my primary residence (not investment or flipping property), or do you think prices will come down drastically over the next 6 months? Also, will interest rates go up or is now a good time to get a mortgage? Thanks in advance.