According to a friend of ours, it is a great time to buy a plane because prices are so low due to the economy. He is a commercial jetliner pilot and just bought a Bellanca for personal use. Just remember to take into account the annual inspection and maintenance fees and not just the purchase price. Another friend of ours bought a Cessna 182 for $66k and the first annual resulted in a month in the hanger and a $24k bill. DH has his license, but hasn't flown in about 20 years. I keep trying to talk him back into it, but he can't personally justify the expense.