[Zeke]

The cheap money (again) has promoted a slowing of the decline. IMHO, it's still declining. However, I think the better part of the adjustment has passed. You could do some projection charts to see what would happen to your tax picture when buying at various points in time at various interest rates.

I think one will still lose equity for the next 2-3 years, but we may be near the bottom of the Bell Curve which means not as quickly. So, only you can plug in your tax situation and see what the net loss will be using different scenarios. Wait too long and the net won't be as good.

I told my step daughter to not buy last year as a first time buyer. She would have lost a 100 large minimum. But, her joint tax return is getting clobbered not having the interest deduction. I've told her recently to start looking around. As I said, she will still loose some equity over the next score of months, but with the low int rates and the tax advantage she will have as a homeowner, the time is getting near. That's only for her, not for everyone.