Depends on what you're thinking of buying. But generally, if you have the need, the money, and the desire, then yes its a good time to buy. If you don't have the need, then you're just wasting your money. If you don't have the money, then you can't afford it anyway. If you don't have the desire, then why are you even asking the question? But the main question remains, what are you thinking of buying.
By the way, you can probably get BP at a very good price right now and get a very good profit within a year, doubling you money or even more.