There will not be a housing "recovery" until about 2022. The age demographics just don't support it until then. Housing is based on age. The baby boomers are beyond their housing procurement age, if anything they are downsizing to existing condos and retirement villages. We won't see another increase in housing until the children of the BB'ers reach their peak purchasing years which won't be until about 2022. If you can hold on until then, do so. If you are looking to purchase, then 2016-2018 should be the prime time to do so (given that interest rates will likely have risen to normal levels). Save up your cash and plunk it down on a good house in a good neighborhood at that time. Just my humble opinion.