Comment by ozi

Yeah, agree that generalizations like "rich people will hold out" don't really hold true when you zoom in on individual home sale scenarios. Yes, the uber wealthy may wait, but those with a W2 often move for a number of reasons related to job, family, health, economic, or other life circumstances that trump the prevailing wisdom of what they should be doing. And then there are those who aren't paying attention or don't care. People want what they want.