[quote=FormerSanDiegan]
I have a simple theory. Homes are much more affordable than they have been in a long time.
[/quote]

Good. DQNews just released some data that supports your theory. Investor activity is up but only by small percentage: “Absentee buyers, including investors who will have their property tax bills sent to a different address, bought 18.6 percent of the Southland homes sold last month. That’s up from 17 percent a year ago and compares with a 15 percent monthly average since 2000.” On the other hand, “In the more affordable inland areas, first-time buyers have relied heavily on government-insured FHA financing. Such loans were used to finance a near-record 39.1 percent of all Southland home purchases last month, up from 18.4 percent a year ago. In the Inland Empire, more than half of all April home purchases were financed with FHA loans.”