Harder or easier depends on the reason for the downturn. There were at least two significant factors that made home buying so difficult last time. First, the credit crisis made borrowing of any kind (e.g. mortgage, business investment, bank to bank, etc) difficult. Second, the extreme number of foreclosures that resulted from so many people not having any equity stake in their own home made lenders too skeptical about who could afford a house. I got a mortgage in 2011. It took four months for me to get $116,000 on a house I had a 20% down payment for. Insanity. That won't happen again. For starters most people have an equity cushion now, so even when prices inevitably come down there will be far fewer people who have zero or negative equity to give them an incentive to leave.

From my experience, which is only with buying two places, I would highly recommend not buying without a significant down payment. PMI is a scam. Avoid it if at all possible. Also, obviously, you get a better rate the more equity you're supplying. The same house can cost you thousands more per year if you go in with minimal down payment.

Personally, I like owning my home. It's a nice feeling to be able to do what you want with the place, and serves as a de facto savings program (houses are great stores of wealth, but historically not great creators of wealth--don't forget that; it's a hugely important distinction). Good luck if you decide to buy. Remember that a home is more than just finance--it's where you live.