SD R, I have a question that has been bothering me for a while, but I have no way of answering it. Maybe since you actually are “on the ground” with the current crop of buyers you have some insights.
How many people actually have the 20% down, and how many people are using bubble money?
What I mean by that is every so often I see someone post here that their plan on investing was to get a good HELOC and use it as leverage. Or that someone was planning on tapping into their 401K to fund their down payment. How many people are using government or 1st time buyer programs to get the cash?
The reason I ask is becasue these are not the same as having 20% down in a bank. They all need to be paid back in future money. I think it could be insightful for future prospects if we figure out where these 60-80k downs are coming from.
Is there anyway of finding this out? I am hoping for more than political speak of “well, every buyer is different and special, so I cant answer that with anything substancial.” You have buyers, you take them around day after day, they must say SOMETHING about it. What about HLS or the other brokers on here? You gotta be asking this question right? Where is the money coming from?
