It depend on an individuals financial situation. Renting can be an option to avoid large losses. However, it does come with it's own share of risks.

Do you owe more on than house than it is currently worth? Do you have to move? Is it a rental? Do you currently have tenants? Would you be able to purchase an investment(rental) if it would cash flow from the start?
Bill Smith
Keller Williams realty
845-728-6162

If the homeowner waits for a higher market to sell in, they will also be purchasing in a higher market. It doesn't make any sense.

If you are buying and selling, it doesn't matter what the market is like.

If you already have a second home, rent out the first one and sell it in a higher market.

I believe it would be better to wait. If they can buy now, that would be great for them also. There are so may awesome deals out there right now and with the interest rates lowering, anybody who needs to buy needs to buy. Also for first time home buyers there is that tax credit. There are so many reasons to buy now and no good reason to sell now. If I owned a home and I needed to move to another part of town or another home, for whatever reason, I would go ahead and buy and then rent out the existing home, because you can still get up to $1,500 a month for rent, or more and then wait until the market comes back to sell. Do you agree?