A financial update

I have to agree with Kelly, a good EF is the best thing a single person can have. Most columns say have 3 months living expenses socked away but honestly if you are all on your own I say closer to 6. Not only could an unemployment spell last longer than 3 months but do you really think that while it does the car won't break, no one will get married, it won't be Christmas, etc...? I didn't think so.:)
Of course I say that as I begin preparing to raid my own EF. See my life is getting a little complicated of late. In April my job contract will end and I will be moving on, no I don't actually know to whence yet. Also I'll be marrying my SO in the fall and therefore be looking for some new living arrangements. Of course since we're looking for living arrangements and the housing market is what it is we're also looking at buying a house hopefully before my contract runs out. That of course is where the emergency fund comes in. I'd been planning on raiding it in 6 months to a year to start a Vanguard investment so I'm not heartbroken as I could be I just hope that I'll have enough left to cover the plethora of possible emergencies that come with all of these things. My posts could get a lot more interesting!
On the topic of home ownership or trying for same that is yes now is a good time to buy. IF you have good or average credit that is. If not banks are going to give you the hairy eyeball since a good part of the down market is due to sub-prime mortgages going into default. AKA they handed out loans like candy and now the people who weren't brushing their teeth got cavities and the bank is left with the dental bill. (Sometimes I like to make bad metaphors) :)
Have steady employment if at all possible, it will get you a better loan.
Have 20% or more of whatever your budget is ready as a down payment so you don't have to get special insurance. Have even more money ready for closing costs and OMG they didn't tell us this [insert essential item] was broken money.
Do shop around and be realistic about your budget.
Don't fall in love with that fixer upper you can't afford if you can at all help it.
Do negotiate.
Don't negotiate without having any idea what you're talking about, check out the local market to see what other houses are going for.
Do be patient some experts are predicting that this down housing market will last some time to come and even if not there will always be another house.