People buy homes in Menlo Park with all cash because there will be multiple bidders and not being contingent on mortgage approval is the only way to win the bid

People buy homes in Menlo Park with all cash because there will be multiple bidders and not being contingent on mortgage approval is the only way to win the bidding. Most of them then go and get a mortgage. The calmaters article has zero data about "investors from Asia". It's an assumption.