Didn’t we already go through this? I posted the last 15 transactions in Rancho Penasquitos either last weekend or the weekend before that. I think more then 80% of those transactions were at least 20% down or something close to that.

Why is it so hard for people to believe that there are plenty of people with money out there? I don’t understand it guys. Look, we all agreed that most of the speculators are gone correct? We also have agreed that subprime buyers are gone as well correct? Isn’t it logical then to think that a much higher ratio of the few buyers that are left are going to be much more qualified then ever before? Shouldn’t it then follow that what sales do occur will result in a higher ratio of buyers with more significant equity stakes then before. Take it a step further and it follows that those buyers with cash who have waited this long are going to be further incentivized by these programs will they not?

Don’t confuse this post with an endorsement that the market is coming back. Just don’t try to predict that the market will follow a certain direction because of your own thoughts of other peoples financial assets.