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There is strong likelihood of banking and us collapse. This also crashes housing.
If you would stop mortgage payments and squat if value goes down, and can get ultra high leveraged mortgage, then yes it's a good time to buy.
Big risk to all investments right now, but housing could do worst.
It is (almost) always a good time to buy a house because it will (almost) always be good to own a house tomorrow.
Remember the alternative is throwing away approximately the same amount of money every month and never seeing that money again.
You gotta judge the market in that area. I saw people buy at the wrong time, during a bubble.