For some, low home prices may be a good thing. People who want to buy a home (and don't need to sell) might see the current housing market as pretty attractive.
With home prices struggling and record low interest rates, homes are at a deep discount relative to the recent past. However, it's still not easy to buy.
The economy is difficult for everybody. Making a down payment on a new home is scarier than ever because you can lose your job at any time. Furthermore, banks are cautious about lending money -- only borrowers with the best credit scores and ratios will qualify. All of this means that wanting to buy and being able to buy are two different things.
It may be tempting to buy with no money down; that way, you can save your down payment for an emergency fund and get into your new home. Unfortunately, it's not easy to buy without a down payment, and you might not want to anyway. Learn about the pros and cons of buying with no money down.
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