Some useful thoughts here http://lessons-from-experience.blogspot.com/ on life, debt.

Land Prices Falling

Land / Building Plot Prices are definitely falling.

Interest rates are up, banks are worried about rolling over debt.

Good news.  Best time to buy a house is when it costs less to buy than rebuild!!!

At that stage land with planning will be cheap enough to buy and allow a great home to be built as opposed to a crudy ill designed and built box.