Analysts say unemployment makes a bad year to buy a home

An analyst for the home building industry says that 2009 is not a good year to buy for those who may be at risk of finding themselves unemployed. Read more about this report at Marketwatch.com.

"Buyers who lose their jobs or who stay in their homes for less than seven years stand to incur substantial losses as home prices decline further in 2009 and the U.S. experiences more moderate home-price appreciation going forward," says Robert Stevenson, a Fox-Pitt Kelton home-builder analyst.

Another aspect that buyers may overlook is that you don't start to see the return on your home purchase at least until you file your first tax return. Only then does the home interest deduction start to pay dividends, so those first six to nine months as a new home owner can be challenging.