Pointing and laughing
For the people who have screamed out about "catching a falling knife", I hear ya, really I do. But the uncertainty of living in a rental or buying at a (what we consider a reasonable price) greatly reduced (think early 2004) price in a superior school district at 6.5% interest on our loan really influenced our decision. We will be in a neighborhood that we love (even at night) with parks, superior schools and a grocery store within walking distance. The backyard has room for the swingset of doom. The guest room is sufficiently removed from the rest of the house so my mother in law doesn't have to listen to my children at odd hours of the day and night.