[quote=joec]Yeah, I think for the coastal areas, getting a loan and financing isn’t their primary concern. It’s find a place they actually like. Having worked in personal finance in the past, it continues to amaze me reading forums when people ask who are all these folks with money. There are so many people with tons of cash out there, it’s no surprise. It IS a surprise when people don’t realize their situation is no where near the norm for these folks.[/quote]

To add to this, many CA coastal communities attract buyers from all over the world. Many of these buyers have no credit report on file as they are not US citizens, so often pay cash (which they have no problem doing). This is VERY commonplace on Coronado and also La Playa and Sunset Cliffs, SD.