Now’s the time to take advantage of what may turn out to be the buying opportunity of a lifetime. This may be the golden age for first-time home buyers. Unfortunately, we won’t know this has been the golden age until it has passed. We will not be able to identify the bottom of the housing market without the benefit of hindsight. However, just like the stock market, the moment will probably arrive when everyone is feeling the most pessimistic. Interest rates for a 30-year fixed mortgage are less than 5.5% and home prices have fallen substantially. First-time home buyers can take advantage of this market because they do not have to sell their old home before buying a new one. Follow this link to read the entire article: article: http://www.nytimes.com/2008/12/06/business/yourmoney/06money.html