My crystal ball is a bit foggy so it is hard to predict what will have in five years, however, real estate is cyclical. Prices will go up. Despite all the gloom and doom, I think it's reasonable to expect that prices will eventually stabilize and begin climbing again. Consumers still believe a house is the best long-term investment one can make. It might take a while but eventually enough buyers will be lured back to the market to raise prices. To make a point, even after the declines we have seen, housing markets do recover and prices do resume their upward trend. Now is the time to consider buying as you are in advantageous position of having time and market conditions on your side.