Click on the Videobelow to see Ron Ensana Interviewed on the Today Show. He says that buying real estate now is a "generational" investment. He goes on to say that, "there are few times in life when you get the opportunity to buy at the bottom of the market and now is that time. It's time to move."
The video is from December of '09. The tax credit information in the video has expired but there are other first time buyer programs out there. The more time the market is at the bottom, the lower the risk for a buyer because that means that there will be less time until the market starts to go up. After having been at the bottom from December 2009 to December 2011, the market has shown appreciation in 2012 and is forecast to appreciate in 2013. Most experts believe we are now solidly in a new "up" phase in the real estate cycle which may last for the next 5 - 10 years.