(Coinciding with moving to a new job) I sold my house in 2006 and have rented ever since. But I have now bought again. I don't regret the time renting at all but I do have reasons for buying now:
a) prices have fallen substantially in the north of England in both nominal and real terms - 20 to 25% nominal, more in real terms;
the money made on selling in 2005 has been invested and has been increased significantly - quite a lot of luck involved there admittedly;
c)although there may be further house price falls to come, now I have retired cash flow is more important. By buying now (in the north where i have always wanted to return) I can be rent and debt free.
For many STRs (remember them?) it will still not be the best time to buy. I certainly wouldn't buy as an investment. But as a residence, that depends on a lot of circumstances and for me the buying decision adds up well enough right now. My sense having spent the last few months on the housing market is that there has been a bit of a wave of renters/STRs back into buying.