Decent article in the Journal about whether people should buy or continue to sit on the sidelines. What it basically says is that if you have access to capital for a down payment and a secure job, now may be a good oppurtunity to buy. This is what I am also seeing in the Boston real estate market. If you can put down 20%, have good to excellent credit, and have a full time job, you will have many options for financing. If you only have 5-10% put down, it is possible to get financing, it's just more difficult.

Q: Given what's happening in the financial markets, is now a good time to buy a home?

A: For some people, yes. If you…

have access to credit

have fat cash reserves

aren't already over-exposed to real estate

have a secure job or income stream

expect to hold the property for at least two years

…then now is an excellent time to buy.

Link to Wall Street Journal