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My understanding is almost always yes if you can afford it and want to own a house. If the prices go down, you can refinance and pay less. If the prices go up, you’ve already bought the house so it’s just free money.

If you have a good emergency fund layoffs can be managed.

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if prices go down you can’t just refinance and pay less. refinancing requires paying out the old mortgage. so that doesn’t check out if prices are down.

if interest rates go down you can refinance.

it’s not a zero risk purchase. the price going down means you’ve lost value but your loan value stays the same.

Thanks for clarifying. Of course you can just wait for the market to pick up again (assuming you're not living in an area where prices will continue to fall for years) but that's some good info.

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