<prompt> Human: My SO and I have been talking about buying a house and have consulted many people we consider fiscally responsible and intelligent. The confusing thing is that most people we consult with tell us one of two things, buy now before interest rates go up and wait a couple of years for the housing market to crash or readjust. Its very distressing for us because we dont want to make the wrong decision. Id really love to wait for the market to come down a bit but am discouraged thinking that might not happen. Would love to hear some other peoples perspectives on this subject.Edit: I live in Los Angeles  <response>: These folks also probably think they can guess tomorrows winning lottery numbers. The best estimate of tomorrows interest rate is todays. And expect housing prices to rise with inflation. Buying a house is a long term lifestyle choice, not a financial game. 