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Ask Curbed: When Should I Buy Downtown?

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We're all about homeownership. However, the tricky part is knowing when to buy. A curious reader emailed us with the question regarding the loft market Downtown. We say wait. In fact, we've been saying that since the early 1970's. What says you?

Hey LA Curbed, I just wanted to pose this question for some expert opinion: When will it be a good time to buy a loft in downtown? Is now the time, or should buyers wait it out?

This month's Money magazine just forecasted that Los Angeles properties as a whole are expected to depreciate 5% in 2008. And with all the new lofts that are going up in downtown, is the increase in inventory going to drive prices down as well? A loyal curbed reader would like to know, thanks!

Your real estate/economic forecasting opinions welcomed in the comments.