A Stunning 60% Of All Home Purchases Are “Cash Only” - A 200% Jump In Five Years
Submitted by Tyler Durden on 08/15/2013 17:29 -0400
“Finally, due to the very thin marginal source of bidside interest (flipper flipping to flipper and so on), it means that most of America has not participated in this mirage “recovery”, and all it will take to send the buoyant housing market crashing is for the one marginal buyer to become a seller. What they will next find, is that when dealing with a bidside orderbook that has zero depth, one indeed takes the escalator down from where the lofty heights achieved courtesy of Fed-funded stairs. “
Thanks for that info and link.
That explains the illusion of recovery nicely.