Is this the worst time to start?

[Oriel Pascal Davis - Lyons]

I'm looking at starting with a 2-3 family property and saw a range of places this week. One which I'm preparing to make an offer on.

Question is, everyone is saying this is a terrible time to buy. Prices are high (place I'm looking at is listed at 74% higher than it sold for 3 years ago) and there is an eviction moratorium that could cause a flood of properties and bring prices back down to earth.

Is it silly to join the rush? Should I sit back and see what happens and buy once the frenzy has passed?