You totally left out individuals that actually have some extra cash on hand separate from Real Estate, they totally own their existing home, have no other loans and have + 800 credit score. They can put a large down payment (35%) along with their good credit record to qualify for a loan and buy the house before they sell their old house. I do understand that those types of buyers are probably in the 2-3 % of potential buyers.
You totally left out individuals that actually have some extra cash on hand separate from Real Estate, they totally own their existing home, have no other loans and have + 800 credit score. They can put a large down payment (35%) along with their good credit record to qualify for a loan and buy the house before they sell their old house. I do understand that those types of buyers are probably in the 2-3 % of potential buyers.