Historically home values usually go up.  Home values will continue to rise as the demand for homes will continue to increase.  Demand will come from an increase of population.  We will continue to see people coming to this country from other countries.  And the 'Echo Baby Boom' is around 119 million, 56% larger than the 'Baby Boom Generation.'  Land is finite, so where are all these people going to live?  Basic economics: as the demand increases, supply decreases, and prices increase.

Commodities prices go through cycles and at various times become scarce and prices increase.  No one knows how long that will last.  Some economist feel that the current speculation in oil maybe nearing a bubble stage.

Consumer goods go on sale through out the year.  Automobiles, furniture, appliances, and electronics all go on sale.  Because of consumer demand, or to make way for the 'new, bigger, and better.'

But, homes are different, you can live in them, use and enjoy them now.  The current buyers market is probably the best market in the last 40 years.  This is really a once in a life time opportunity.  And if your going to be in your home for five to 10 years, you will very likely see appreciation in your home.  Interest rates tend to cycle every five years, so while you are living in your home, you may also have an opportunity to refinance at a lower rate.

People with money are not concerned with the current housing market, instead they are buying low and will sell high.  One day this market will change, prices will increase, inventories will decrease, and interest rates will go up.