“However if the money is coming from savings, bubble sales, inheritances, bonus’s, gifts, oil $, parents, stock protfolio’s or other associated sources of cash then it is irrelevant the actual source. Cash is king. People have alot of money and a strong desire to buy a house.”

On individual transaction by transaction basis at the PRESENT MOMENT, that is true. However, try projecting that circumstance forward and that is where I have major problems with what a lot of the RE posters here are implying. It doesn’t fit with the MacroEconomic picture that I see in the next several years.