It appears we are in for a long period of uncertainty and this hurts home sales. I will be the last one to authoritatively state that now is the time to buy a home, but I do know that the syock market is not a safe place for money, at least not right now.

If you plan on staying in a home for 10 years or so, there is probably no worry about values, but if you are planning to stay in a home for a year or two, perhaps even five, there is a chance vsalues will fall. There is also a chance prices will rise in three to four years. It's a risk purely from an investment point of view. However, if you are looking for a place to live, to make a home, and you don't like the idea of renting, chances are you would break even by owning for 2 or 3 years -- especially when you include the tax breaks from ownership.

The problem is that no one knows what the government is going to do to make changes in our economy which could affect home prices. The talk is that they are going to attempt to support values. If you believe the government can and will do this, then you might want to take a chance -- but there are no gaurantees.

The good thing about Savannah Ga is that our economy is diverse -- the port is doing well, the military will be coming home soon, Gulf Stream is doing well, tourism is flourishing -- so it appears real estate we will do allright and will attract more people to the area creating a demand for more housing.