When are people waiting to buy homes?

im a senior in high school with economics as my best class. so we were talkin about houses and why its good if people buy them. but the way the economy is right now, no one is purchasing homes, right??





-im wondering why not if the prices are down and the way the economy is now, might as well right?





also, do u think its better if the government raises taxes OR if they lower it and let people keep their money, which they are going to spend and end up in the economy anyways?When are people waiting to buy homes?
People think that prices are going to keep going down. Just like they thought prices were going to keep going up a few years ago. Most people are sheep and won't make any moves until their neighbors do the same. Also, as the first person said, those who already own homes are having a hard time selling.





In my opinion, about one month from now will be the best time to buy. Interest rates are going to drop a bit more in that time.When are people waiting to buy homes?
In my case I own a home. I would like to move. I know I could get a good deal on a house in a better neighborhood, but the Catch 22 is that I can't sell mine right now because the market stinks. No one is moving every 5 years like they were 5 years ago, and the market for first time homebuyers to buy those starter homes those people were moving out of has dried up due to more stringent loan requirements.
One of the news shows that I watch had a segment on housing. I am not certain which one but the expert on the show said that people are willing to buy houses at the lower prices but it is harder to get loans from a lot of financial institutions.