"It's A Far Better Time To Buy A House Than Any Time In the Past 8 Years"...But Your Micro-Market May Vary

Your micro-market (area, neighborhood, subdivision, block), and micro-existence (job, finances, savings, obligations), may vary.  And "better," in any context, is highly subjective.   But this article by Cullen Roche, and the quoted Op-Eds by Gary Shilling (Don't Buy) and Eric Lascelles (Buy Now), are worth a look.

Related:
April 2012 Sales Show Prices of Sold Houses Declining, Again
Q1 2012