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re: Can someone help me explain how people are affording a house in today's market?
Posted on 4/3/23 at 2:47 pm to BearCrocs
Posted on 4/3/23 at 2:47 pm to BearCrocs
quote:
But yes, the people paying full cash for houses is a bit of a head scratcher
Holy shite. According to this site, 1 in 10 home purchases were cash in 2022. Most since 1988.
This post was edited on 4/3/23 at 2:50 pm
5
Posted on 4/3/23 at 4:52 pm to StringedInstruments
quote:
quote: But yes, the people paying full cash for houses is a bit of a head scratcher Holy shite. According to this site, 1 in 10 home purchases were cash in 2022. Most since 1988.
Sounds like people selling larger more expensive homes and downsizing or buying in a area where housing is cheaper.
This post was edited on 4/3/23 at 4:53 pm
Posted on 4/3/23 at 6:59 pm to StringedInstruments
Blackrock?
Posted on 4/3/23 at 7:24 pm to StringedInstruments
quote:
According to this site, 1 in 10 home purchases were cash in 2022. Most since 1988.
Several factors contributed to this.
- Black rock is paying cash.
- Lots of people were paying cash for vacation homes.
- Lots of people were downsizing with the rapid increases in home value.
Posted on 4/3/23 at 8:09 pm to StringedInstruments
quote:My best friend sold his house last Summer for a cool $1.1 Mill. Buyer brought cash to the table.
Holy shite. According to this site, 1 in 10 home purchases were cash in 2022. Most since 1988.
He admits that he sold at the top of the market and no way he get that today. Just like cars bought during the pandemic, whole lotta people are upside down on the houses they bought in the last couple of years.
Posted on 4/5/23 at 6:21 am to StringedInstruments
Old people are dying and their children and grandchildren sell all their shite.
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