A good time to buy

My wife and I have been considering buying a home for a while. There are a few points in this article that confirm to me that anytime over the next year or so should be a great time to buy.

Here are a few points that should make any Twin Cities home buyer happy.

WASHINGTON - Sales of new homes plunged last month to their lowest level in more than 12 years, a grim testament to the problems plaguing the housing sector.
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New-home sales dropped by 19.3 percent in the Northeast. They plunged by 27.6 percent in the Midwest and they fell by 6.4 percent in the South.

Over the last 12 months, new-home sales nationwide have tumbled by 34.4 percent, the biggest annual slide since early 1991, and stark evidence of the painful collapse in the once high-flying housing market.
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To help bolster the economy, the Federal Reserve has sliced a key interest rate three times this year. Its latest rate cut, on Dec. 11, dropped the Fed's key rate to 4.25 percent, a two-year low. Many economists are predicting the Fed will lower rates again when they meet in late January.

Can you say, "It's a great time to buy!"? Of course, that assumes that you can actually afford that loan that you're getting. Therein seems to lie the problem with so many people...