“I’m not an economist but it seems to me that if everyone waits and prices plummet, then when everyone jumps in, we will be right back where we were before with escalating prices.”
Not investors. It takes a while to change their psychology, especially if real estate turns out to be a horrible investment like it always has been.
During the boom, non-owner occupied purchases were 48% of the activity. That means half of all purchases were investors/speculators.
