Right now and for the next 2-4 years, doesn't look like a very good time to buy. Flipping in most major markets, definitely... But don't get left holding the bag when the music stops. Sometime between 2016-2020 a big crash is coming, for both real estate, and stocks. Stocks will likely be first, in 2016, and then real estate, 2018-2020.
@Vincent Crane The U.S. real estate market was, high level speaking, not overvalued in 2015. It is (in most U.S. states) not overvalued in 2020 either. Valuation in real estate seems best measured against income, and either way never a function of prices only, perhaps even less investor narratives.