Sdr you have got obvious Jamul envy! Sale to pending 75/10 LOL.
“How many of these sideline buyers:
1.Have at least 20% down in Cash that is NOT SOURCED from the following: Prior sale of another house in a bubble zone, actually equity extracted from a house in bubble zone, from Mommy or Daddy.”
Of course capital comes from combinations of sources. What difference does it make? Do sellers say “hey you got bubble lucky, or you got your money from inheritance, go away? I only want good savers. Go buy what you can afford with money you saved!”
Besides that, we keep talking about 20% down and every one doesn’t have to have it even now.
Interest rates come into play for thinking people using 30 year fixed products not just liar loans. Regardless of what they are going to put down, rates can be a motivating factor to buy. That only makes sense.
Many 35 year olds are not ready to go yet. Many of them because they set their sights higher than the market will allow for them. No sense of entitlement there. Nothing wrong with waiting for the market to fall and saving but none of this makes me feel sorry for anyone except maybe the true working poor. Whats wrong with buying a substandard property at a fair price, renting, or leaving California anyway? Where’s my beautiful house? Where’s my beautiful car. Where’s my beautiful wife. How do I get this?
Letting the days go by.