Real Estate Curve

Many first time buyers are calling and asking this question, I heard the market is down, is it a good time to buy? I myself hear many different things, like on tv they mentioned this recession may last 2-4 years, at the office they are saying this year will be slow but the next will be better. From what I see if that the last 2 weeks of Feburary were getting more people looking through the market which is a good thing. The more people in the market to look for a house the more chances of the economy getting back up slowly. The prices in the GTA area got into a down real estate curve of between 8-11%. It is a good time for first time buyers, you never know what will happen in six months, people are saying prices will stay the same, and other are waiting for the prices to drop, what is one to do? I say life is a gamble, do you research, ask the people you trust, look at the stats and economy and then make your choice.