3 ms·

The prices are not being driven up by buyers with 5% down payments. They are being driven up by 100% cash buyers, people moving cash across national boundaries.

The prices are not being driven up by buyers with 5% down payments. They are being driven up by 100% cash buyers, people moving cash across national boundaries. Just look at the percentage of "all-cash" offers. That tells the whole story.

renewiltord 5y ago
Considering that foreigners have to buy new build, how do you reconcile that with your view? What evidence would cause you to think it is not foreigners?
- kwere 5y ago
  They still heat the resale market
- spfzero 5y ago
  I guess I didn't know that was a law? It's not in the U.S. Foreigners can buy anything they want. But I don't think the distinction is meaningful, higher new build prices would drag up existing home prices.