Should you buy now?
Bankrate.com has an interesting article for home buyers and predictions for the future of the real estate market. It references the Federal Reserve economic experts. These experts declare that "the housing bubble will not burst, because there is no bubble, and that the acceleration of home prices is losing velocity."
According to the Bankrate article, the study says that "...homes are now more affordable than they were in the 1970s and '80s."
The report concludes that their "... it appears that home prices have risen in line with increases in personal income and declines in nominal interest rates."
The report, titled "Are Home Prices the next "Bubble"?" is available here (you will need Adobe Acrobat to view the report, that is a pdf file).
To read the Bankrate.com article, go here.