“To the buyer with a big down payment from the early 2006 sale of his/her over priced home, the market is going to look very good.
To everyone else, the market looks the same (interest) times (price) = payment =/- 4%”
It is also going to look very good to those with lots of cash for a downpayment as well. You know, like those bitter renters who saved the difference between rent and the comparable mortgage payments.
