Relevant:
- FHA low down payment buyers and cash investors dominate Southern California housing market – Not a healthy market when over 63 percent of sales come from these two groups. Move up sellers unable to shift because of negative equity.
- Southern California Home Sales Rise on Investor Purchases
- The broke versus all cash buyer: Over 56 percent of Southern California home purchase came from FHA insured buyers and all cash buyers. Last month record level of buying from all cash buyers.
- Cash-only home sales rise in California
- record share of california home sales purchased with cash
2013-02-07 — latimes.com
Who needs a mortgage when you have greenbacks to spare?
Not the wealthy, and certainly not investors, both of whom appear to be saturating California's real estate market these days. The latest sign: Cash purchases of homes in the Golden State hit a record last year, accounting for 32.4% of all home sales.
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