If you followed the history of long term busts and crashes, the buying opportunity is never just a few months after the peak when things have dropped some and folks like you are running around screaming buying opportunity. The real buying opportunity is when things have reverted to the mean, and folks like you have started deploring how bad the market is and what a terrible time to be in real estate. THAT is when their is non-speculative buying opportunity and always has been.
Right now, if you purchase you are speculating prices will not revert further to long term trends, which are WAY WAY below even current prices. It is purely speculative because there is no floor on this market. There is plenty of supply, little demand, and insufficient cash to liquidate most of the rapidly accumulating inventory.
I don’t scream; THIS IS SCREAMING!, and considered impolite on FR in most instances (rude even).
You seem to be assuming a great deal about me, based on a single sentence. My fault, doubtless, I didn’t write a thirty page document stipulating all the wherefores and therefores.
I don’t speculate (in the market sense). I buy to hold, and leave speculation to the really smart people, who can always catch the absolute bottom when they buy, and the absolute top when they sell (or think they can). Note I called it an excellent home buying opportunity, not a house buying opportunity. The difference is the difference between looking to find a bargain and looking to make a killing. But, you knew that.