Phoenix real estate market being held up by all cash buyers – 47 percent of Phoenix sales were from all cash buyers in December

``Ultimately this is speculation ex-banking and shows that people still believe that real estate is an easy road to wealth. There is no reason to rush into these markets with such poor dynamics. After all, wouldn’t you want to wait a year or two to see how things shake out since we still have a record number of foreclosures approaching? ''