An October 15, 2011 article in the WSJ suggests that we may be at that point where it makes sense to buy real estate again. The article is written by Jack Hough of Smart Money Magazine. Here are some of the highlights:

• U.S. house prices have plunged by nearly a third since 2006, and home ownership rates are falling at the fastest pace since the Great Depression.


• Two key measures now suggest it's an excellent time to buy a house, either to live in for the long term or for investment income (but not for a quick flip).


• First, the nation's ratio of house prices to yearly rents is nearly restored to its pre-bubble average.


• Second, when mortgage rates are taken into consideration, houses are the most affordable they have been in decades.


• To read the entire article, click here http://on.wsj.com/pNozMz