Folks, the thing is, nobody is being more or less risk adverse by getting into the market vs standing on the sidelines.
If person A wanted to buy a house, they are not taking on any more risk than person B who has been waiting for prices to go down.
If person B has been waiting since about 04, that person has had an opportunity loss that is the same as person A's gain.
You cannot create nor destroy risk ... you can shape it in ways you might like but you have risk weather you like it or not.
The only thing that is important is your view of the future. My thoughts are that as long as prices are strong, you will see more and more internationals moving here who are used to prices way higher than this, vs what we saw in the 80's and 90's where U of S and U of L grads were moving to Calgary. Around the world, large cities with economys half hot as ours, prices can be way higher. I think the biggest risk of them all is continuing to wait for prices to go down ... every month you'll save a thousand or two for a house, but your entry house went up by 3-4 thousand.
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