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It could be a narrative building thing... The biggest takeaway really is that people are likely leveraging existing equity, so there's likely a generational an
by Tiktaalik 3y ago
It could be a narrative building thing...
The biggest takeaway really is that people are likely leveraging existing equity, so there's likely a generational and class element to the purchases.
(ie. people are "all cash" because they sold their old highly valuable house, and buying a new one)
- sybercecurity 3y agoI have been told from a Realtor that this is happening in the East Coast anyway. A lot of millennial couples/families buying their first house with a gift/inheritance from boomer parents. The parents sold their house and used the money to help their children buy their first house. Sometimes all cash, but more often a big down payment (over 20%) to avoid having a large mortgage payment.