Relevant:
- As Housing Markets Recover, Wall Street Beats Families To Homes
- 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.
- First Time Home Buyers vs. Home Investors
- 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.
- Housing: Cash Sales Continue Year-over-Year Retreat
2013-09-27 — huffingtonpost.com
``All-cash purchases made up a whopping 45 percent of all residential sales in August, up from 30 percent over the same period last year, according to a report released Thursday by RealtyTrac, an online real estate company. Some of these buyers are local flippers, looking to make quick renovations and sell at a markup a few months later. Others are institutional investors backed by Wall Street money, who typically convert homes into rentals.
The influx of cash buyers in cities across the U.S. poses a steep challenge to ordinary people looking to purchase a home for the old-fashioned purpose of simply living in it. That's because cash buyers have a huge advantage: They don't have to go through the lengthy, more uncertain process of seeking mortgage financing.''
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