"Absentee buyers – mostly investors and some second-home purchasers –
bought 18.9 percent of the homes sold in February. Buyers who appeared to
have paid all cash – meaning there was no indication that a corresponding
purchase loan was recorded – accounted for 29.3 percent of February sales.
In January it was a revised 29.7 percent – an all-time high. The 22-year
monthly average for Southland homes purchased with cash is 13.8 percent." http://www.dqnews.com/Articles/2010/News/California/Southern
