Is the market going to crash and if I bought a house will I lose money? Well, the short answer to that questions is, you don't lose anything until you sell the asset. Same goes for stocks. No sale no loss. If you plan on staying in the house for several years then you probably won't have to worry about it. Many financial people are not seeing a 2008 crash on the horizon. If anything we may just not see the large percentage of appreciation we have been seeing. So in short, if there is not a crash and appreciation slows then the prices of houses would still be lower today than if you wait a year.
The other issue many buyers are facing is the competition for houses and the frustration that accompanies that. That is a legitimate issue and many buyers have decided to wait until the market cools off with that regard.
Only you can decide what is best for you in the long run but if home ownership a dream and you are financially ready, there is no time like the present.
