[quote=sdrealtor]Most of the offers were Asian buyers for primary residences (not investors unless they are lying which I wouldnt know) and most had very significant (i.e. most had no problem coming up with $50,000, $100,000 and even $150,000). There seem to be an endless supply of these buyers for properties under $350,000.

Based upon what I saw with my own eyes, I have a hard time believing prices have much room to fall there. Most of the loans were about $200,000 or less so even rising interest rates wont drive the payments too high on these relatively low loan amounts.[/quote]

Are these Asian buyers mainly engineers and scientists? How will they be affected by a general rise in unemployment?