It is difficult to get excited when a house in some places means $3000 a month payments for 30 years.
I have been through the real estate bust in Texas. We had people jumping in “good deals” only to find the price going lower (yup they ended up let it go back to the lender). The real estate cycle is a slow one,no need to be in a hurry. I would rather buy on a true upswing than attempt to catch a falling knife.