I’m curious if these are cash-wealthy folks sitting on a mountain of equity that just couldn’t wait (maybe even former owners who cashed out a year or so ago) or just a second round of greater-fools with the standard toxic loan products.
A scary thought is that there is a potential for a ‘soft-landing’ if there is an adequate supply of both of the above for the indefinite future.
Again, I think we really need to have some better statistics regarding how buyers are financing home purchases currently to have a better idea what can happen in the future.
