Some people may have cash because they recently inherited their parents’ old home, and sold it. You never know. They intend to preserve the equity in their inheritance, and move up to something better.
Most people have equity because they been homeowners for a long time through multiple houses.
People have told me for 50 years that the little guy can’t get ahead.
They were wrong and they are still wrong. The little guy just needs to start little and keep going, but few do. They are convinced it’s not possible and they haven’t been properly educated as to how to go about it.