Are you buying a house so that "you don't miss out on a crash"? Is that your primary reason?

I have been guilty of buying electronics because of how good the discount was. I did not really need that item and often collects dust after purchase.

Timing the market rarely works. I would buy a home when the prices come down to the point where I can comfortably afford the payments have enough left over for maintenance and repairs.

Another important factor to consider is how stable/reliable your income stream is?

For a personal perspective, I really wanted to buy a large second home during the pandemic, but I was not able to find a home right for me. As things stand today, with the pandemic mostly in the rear view mirror, I am not sure I want a second larger home. I remodeled my current home and am happy living where I am right now. I do not want/need to buy another home no matter how cheap it gets.