What to expect
After the rescue plan takes effect more money will be available for mortgages. That doesn’t mean everybody will qualify. The standards will still remain very high. Market activity should increase but prices will not go up. There is so much inventory of unsold homes that there will still be downward pressure on prices (supply and demand) until the inventory is reduced. However it will be a good time to buy a home, especially if you plan on staying long-term. Don’t look for the bottom. You wont find it until things improve.