Is it a bad time to invest?

[Kazumi Boyd]

Hello friends. My wife and I live in Oregon and we want to buy our first rental, but the interest rates and the housing prices in Portland are very high. A 3-bedroom house starts at $450k. But I'm getting the feeling to wait until after the election to see who gets into office before we pull the trigger. Without getting political here obviously if we remain on the current course of policy we will see another crash like we saw in 2008. Am I overreacting? Should I proceed with looking?