Some people sold their home at the peak of the market, and rented a condo.
After the market crash, they repurchased near the same neighborhood for substantially less. This is the dream of every home investor. But I also know people who thought the market was going to crash, so they waited for years to buy a home. Prices kept going up and they finally decided to buy at a higher price than they expected. Then the market crashed. Housing is a long-term investment, and sometimes you just have to commit.