There were many economists who predicted the real estate bubble would burst and that must have been a helium filled hot air balloon because the POP has been heard around the WORLD!!
Unfortunately there are a group of people who get together every couple of years under newsworthy protests (G8 Summit) who would be more qualified to give you a direct answer than any of us commoners.
Unemployment is still rising, foreclosures have not yet bottomed out, GM - the company that had a number of employees second only to the US Government has screamed Uncle and people are AFRAID.
The only thing that you can truly do is TRUST YOURSELF and make as informed a decision as the information available to you.
None of us KNOW what is going to happen.