Report: Half of All Homes Are Being Purchased With Cash
Posted on Thursday, August 15, 2013 8:30:20 PM by Red in Blue PA
More than half of all homes sold last year and so far in 2013 have been financed without a mortgage, according to an analysis by economists at Goldman Sachs Group.
The analysis estimates that around 20% of all homes sold before the housing crash were “all-cash” sales (or around 30% of sales by dollar volume). But over the past seven years, the all-cash share of sales has more than doubled, increasing by more than 30 percentage points, according to economists Hui Shan, Marty Young and Charlie Himmelberg.
(Excerpt) Read more at finance.yahoo.com …
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