There are numerous reasons to buy a home in 2008, and many reasons to not buy.  An argument can be made for either decision; and only time will tell which was the correct choice.  I believe your home is your home, not an investment.  It's great when you make money on your home, but primarily it is your refuge. I know many who disagree, they buy, spruce up, sell and cash in on their $500,000 capital gains exclusion and move every two or so years.  I suppose that is a job of sorts, but my house is my home. 



We had a small cocktail party last night at our house for our friend from Rome.  Every time, we entertain, I love my house more.  We have owned our home for nearly fifteen years, it is the third home I have owned and my favorite.  After all of this time, we finally have it just the way we like it (yes, I wish I had blah, blah BUT I do have a lot and am very happy for it). 

Came across this poem and thought it was "cute": Real Estate Lament, by Donald M. Weill

I hesitate to make a list
Of all the countless deals I've missed;
Bonanzas that were in my grip -
I watched them through my fingers slip;
The windfalls which I Should have bought
were lost because I over-thought;
I thought of this, I thought of that,
I could have sworn I smelled a rat,
And while I thought things over twice,
Another grabbed them at the price,
It seemed I always hesitate,
Then make my mind up much too late,
A very cautious man am I
And that is why I never buy. 

Read remainder here