My trainer just bought. He and his wife want to start a family, and they want a house to do it in. She works in a bank so is fully aware of the market. They plan on staying in it 10 years.

Another friend just bought a house. She is aware of the market situation, but she just divorced, and wants a home for her daughter. She plans on being in it for a while. (Incidentally, she makes a boat load of money, so if she had to move, I don’t think it would impact her much.)

Another guy I know is going through a divorce, and he just sold today. He tried to do a FSBO, but got no bites after 3 months. Finally he got a realtor friend to put it on the MLS. It sold in 1 week, and his realtor friend made 10K.

People want homes. They are sick of renting. They have made deals with themselves, ‘if it gets to x, then I’ll buy.’ That’s what people do.

My trainer is a first time buyer. My friend is not.