Home sales are up but prices are falling; who's buying houses? (San Jose Mercury News)
Posted January 5th, 2009 by California Home Loan
Current home shoppers, experts say, generally fall into two camps: first-time home buyers and investors. Almost all other buyers remain on the sidelines, either because they're unable to qualify for low-interest loans or because their current home has lost so much value they don't have enough equity for a down payment on a new one.