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You are right but they are linked. The proportion of people who don't take a mortgage as a fraction of buyers isn't that high I think? (myth of the all-cash for
by brutus1213 5y ago
You are right but they are linked. The proportion of people who don't take a mortgage as a fraction of buyers isn't that high I think? (myth of the all-cash foreign buyer)
- anonymouse008 5y agoThat is exactly the point. Though a relationship exists, the mindset that believes “it’s now more expensive” is the mindset that creates financial instability through decisions and behaviors made over time in more markets than just housing.
- JKCalhoun 5y agoI don't think it's a myth — well the "foreign buyer" part is probably in the noise. Talk to a realtor in any U.S. locality (I happen to be working with a realtor in a mid-west state) and ask them how many homes are seeing all-cash offers. I suspect it is also institutional/corporate buyers and people who cashed out of their home-in-expensive-region and are moving to less expensive communities. I don't think there's any myth there.