We all know lots of people who have recently bought: Indicative of a Market Top?

This exchange on RE Talks, Tue Oct 27, 2009, 7:46 am and 8:22 am -

eyesthebye: “I look around my office full of dual income professionals and [I've] lost count of the number of people who’ve bought homes the past 6 months.”

dot com refugee: “I do agree with you on this one, in that friends and associates in my 30something age group have virtually all bought their own homes and many have a rental property. Even the few in my circle in their 20s have bought. I’m about the only person I know that rents.”

VREAA can add that he personally knows of the following recent activity: (a) a longstanding Vancouver RE bear who bought two properties, (b) a prior RE bear who went from renting to buying a house, and (c) a family that went from owning two properties to now owning three.

Does this activity represent steady ongoing demand, and thus a healthy market? Or is this activity demand ‘borrowed from the future’ as the result of low interest rates (plus some bear capitulation)? If so, it would suggest an overheated market and perhaps a market top.