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Homes purchased by all-cash buyers: How is this trend unfolding in the U.S. real estate market?
STATEN ISLAND, N.Y. — At the top of the coronavirus (COVID-19) pandemic, hordes of frenzied dwelling buyers snapped up real estate at an alarming amount, swooping in with astounding all-money provides to secure property in a rather unconventional way. But according to some new real estate data and modern reporting, sidestepping a property finance loan is no for a longer time an offbeat move: Very last 12 months, virtually a third of U.S. homes were obtained with dollars. Which begs the question — how are such exorbitant purchases attainable? “Only the wealthy are in essence getting residences,” Lawrence Yun, main economist at National Affiliation of Realtors, a short while ago…