I need a place to live man. I can't wait forever for prices to come down, I've owned a home before, and even though rates suck, now is a better time for sure. It feels like I can shop.
My grandpa built his home and it was a nightmare. Contractors kept going cheap, he had to watch over them, cost overruns, delays, etc. He probably has a better home than one could ever buy, but I don't have that kind of time or money.
When people say "buy a home", the majority of people are far more concerned with affording the land underneath (or share of a condo building) than the structure itself.
I just can't tolerate apartment life any longer. I have 2 dogs. They won't live forever, they need a yard. I need stability. Also a home is not an investment, its a liability. I also want a place I own, that I can have paid off. Its a long term decision.
I'm also willing to admit I can miss the bottom price. I could save 15% and wait a year?
In the meantime pickup an RV and live on the land. Used RV's should be cheaper right now.