There are enough cash millionaires around the world to keep prices up, though I'm sure there is going to be some drop.
No, there aren’t enough cash millionaires. Cash millionaires buy, hold and sell over decades. Cash millionaires already have homes. The leveraged-millionaires are the ones buying, selling and climbing the ladder. I was around the in 1990s and I saw how La Jolla and Del Mar prices dropped.
Like the English say, the difference between old families and new families is whether you inherit or you buy your furniture.
