[12B]

5% of 20 million is 1 million. Assuming they all bought a new home with 20% down - they still would not wipe away the current overhang of unsold real estate.

That is correct. But when you're teetering on the edge, it's all about momentum.

[LurkingSince'98]

Yes but next year there will be 2 million homes unsold and there won’t be 40 million illegals - 5% of which have 20% down payments.

Lurking’