This is a buyer's market. As we are four to five years into the biggest housing bust in modern history, and prices have come down a long way, about 30% from their peak.
Mortgages are exceptionally low, you can get a 30-year loan for around 4.5%. Compared with rates of 6.3% (about two years ago), that drop cuts your monthly payment by a fifth.
You will save on taxes, you can deduct the mortgage interest and real estate taxes from your income taxes!
Buying a home is forced savings; today, you can pay a mortgage for less than it takes to rent!
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