Why not to buy real estate in a buyer's market….

With the New Year upon us we’re reading and viewing the recommendations and predictions from many experts in all fields—personal, family, health and, not the least of course, ecomonics and real estate.  Naturally, I listen carefully to the comments offered by the economists.  While most agree that the housing market appears to be stabilizing, many of the experts also agree that the recovery will be long and slow and no one is certain if the recovery will be able to sustain itself once the government homebuyer tax credits go away.  While I believe this market is the perfect time for many people to buy their first home and for others to “move up” to a larger home,  I also agree with the economist I heard on “Good Morning America” this weekend.  His advice?  Before you think about investing in anything…stocks, bonds, real estate—even your 401K account…pay off all your credit cards.  By making sure your accounts are up to date and saving for a down payment you’ll be able to afford that home—no matter what the market condition.