This is the conundrum of many. My wife and I are living within our means and trying to buy a house without going broke or being a slave to the mortgage payment. There are so few houses in that range so we just wait. The thing I need the most in a house is some land, I would love an acre or two, 5 would be optimal, so that I can have some sustainability. Just biding our time to get what we need.
I don’t think the prices are going to zero, there will be all kinds of catastrophes before that occurs. Decrease in prices yes but zero, doubtful.
RE: The Biggest Pys-Op in History - The House Price Wealth Effect