[quote=cooprider]Maybe I should start a new topic, but I’m wondering who is buying out there these days, maybe the Realtors can comment.

Is it first time buyers?[/quote]
Many of them.

[quote=cooprider] Are people moving up, moving down? [/quote]Very few that involve people also selling so usually an additional place or a first home or a first investment property.
[quote=cooprider] Foreigners? [/quote]
Piles of them. Lots of people who have seen their US net worth increase 20% and now want something with a beach that has nice weather and a zoo.
[quote=cooprider] And how are they paying for it these days? 20% down?[/quote]
This part really varies. Generally foreigners bring as large a cash component as possible. People buying a first home generally dont need a lot down because in many places purchase carrying cost at 90-97% financed is about the same as market rent.

[quote=cooprider]

I tend to think we are in a transitional phase where people might be moving into something more affordable, but then there’s the issue of how they sell what they currently own and can’t afford. I’ve read of people fraudulently claiming rental income on a house they own only to foreclose on it once they close on the new one. Seen that?[/quote]
I have heard of it but not actually seen it.
This only has some utility because (and people don’t realize this part) many of the loans don’t stop with foreclosure. The banks will sometimes follow you for the money after. The only loans that are immune to this are original purchase money loans.