Jon, I can not predict the future! By the looks of it, our economy will worsen! Thus, removing probable home buyers off the market. Which in return will continue to drop the value of homes. Making it a perfect buyers market for those with capital! Look around for Bank-Repos, decide on a few homes, hit the bank, make them offers -even lowballing!, then wait to see if you receive any responses! My parents own 3 houses -2 of which are payed for, they are looking at Bank Repos as I type this.
Good Luck! Jon!