re: Building a house. Build now or wait to see if prices fall?

Prices will not fall dramatically, either in materials or labor. Keep looking until you find an honest contractor who you can trust....one who will help guide you with making cost effective choices. Some plans are more expensive to build than others--open your mind about shape/size/materials choices rather than go pie-in-the-sky and picking "dream home" stuff. It's a house....you are likely to sell it & buy another before you kick the bucket. Don't get overly emotional about the process, and you will save money.