Those with cash may buy becasue they risk having someone else with cash buy before them.

Someone who is not paying all cash but has 20 % down may look to buy now becaue in 2 years the required down payments might be 40% and therefore he might be locked out if he has not save the 40% or does not have acccess to the 40%.

Just a hypotheitical but that would be the rationale.

waitingpatiently
Do you think that you are going to be able to time the exact bottom? You are going to buy at some point and more than likely someone is going to ask the same question about you. Or they might ask why didn’t you buy if things shot up before you made a move. It’s easy for people to judge the past. Harder to see the future.