Financial Crisis Keeps Home Buyers on Sidelines

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I've been saving $ for few years and have $50K to 100K for a down payment. I have followed homes on small acreages in the Northwest and have noticed prices really going "south". Do not plan on buying until almost all terms, pricing etc. are heavily in my favor!
Prices should be down up to 50% from the infalted pricing of just a year ago! Buyer's don't be sucked in by Real Estate agents or Mortgage Lenders who use of the term "fair market value" or "comparables". There is no such thing as fair market value when its heading lower by at least 10 to 15% over the next year!
Buyer's with cash for a big down payment are in the driver's seat and "you" should realize this - I DO!
Don't do anything to prop-up inflated home pricing. Pricing needs to come in line with the "median" wage erner. Let's do future home buyers a big favor and keep our money on the sidelines until home prices are where they should be in most areas of the country - that is 35 to 50% lower than in 2007-2008!
Will buy a home in the next 18 months - on my terms!

John Moylan of AK 6:16AM November 01, 2008

and make loans easier to qualify for. In most industries if something doesn't sell you run a sale, not raise prices and get Uncle Sam to rob taxpayers and bail you out.

Decapoe of NC 11:36PM October 05, 2008

Dear Mr. Bill O’Reilly
On the web site with Fanie Mae is a list of participant lenders that they say would help home owners refinance.When you click on the link and call the lender they said they dont know anything about the economic housing plan?
I need to refinance and I can't. Where should I look for help.
Very Respectfully,
Angelica Romero

Angelica of CA 11:33PM October 03, 2008