A family in the DC area has decided to buy a house near or in my mom's Takoma Park nabe, and they are blogging their search at Slate. Why are they buying now when prices so clearly have so much further to fall? I would be waiting it out in a rental...I was surprised to see little or no sentiment to that effect in the discussion in the Fray. I keep an idle watch on homes in the area. They have been very late to drop in comparison with other places, but that just means there are bad days ahead, not that greater DC is immune to the bursting of the bubble. And a sad and sobering tale from the same area, this Washington Post article about a homeless family is worth a read. Their lives unraveled from middle-class to homelessness in a hurry.