What's it really going to take?

OK. The Stimulus has been signed. Another $700 billion plus in new spending and tax reductions. $8,000 to new time buyers that they don't have to pay back! Is this enough to make consumers start spending? Is this the catalyst that will send the masses back into the housing market? What's it really going to take?

Sure, I think people should go out and buy houses. I can even construct very compelling arguments why this is the best time in years for people to buy their first home or move up into their next home. Warren Buffet's famous quote goes something like, "be fearful when others are greedy and greedy when others are fearful". I get it and I think that intellectually most people do also. Still, few are buying and home prices continue to drop in most markets.

So, what's it really going to take? What are you waiting for? Why aren't you buying homes? Is it...

Job security?

Waiting for the market to bottom out?

Waiting for interest rates to fall lower?

Hoping for more inventory?

General economic insecurity?

I really want to hear from the general public. Tell me your story. I would really love to know if there is something that someone can do to improve this mess we fallen (or jumped) into.