·        Central Ohio has fared better than most areas of the country during this crisis. It has a relatively stable economy due to its central location in the state, its diversity of income streams, and its universities. 

·        In December 2008, the home inventory level was at its lowest point since April 2005.  Lowering inventory levels is a key to returning the market to a balance between supply and demand.

·        The declining inventory of homes coupled with historically-low mortgage rates may prompt home price increases in 2009.

·        Congress is working on a tax credit for first time home buyers of up to $8000 if you buy before August 31, 2009

·        Mortgage rates are great

·        If you calculate the tax benefits that you will get from home ownership (NOT including the potential $8,000 tax credit), vs. renting, even if your home does not appreciate you may come out ahead financially depending on the rent that you would pay, the price of the home, and your rates.  See the rent vs. buy calculator at  http://www.vlender.com/cgi-bin/calc/rent_vs_buy.cgi (Columbus average rent for a 2 bedroom apartment is about $850)