Absolutely. Cash is the way to go. As I mentioned in my previous post, starter homes in my area are close to a million. And there are many, many people who just dip into their checking account, write a million dollar check and scoop up a house for themselves.
My only concern is that I feel there are a lot of young working people who can’t actually pay cash for a house today (they probably buy too much coffee at Starbucks).
I think we need to find a way to push the institutional investors out and somehow find a way for ordinary working Americans to reach for that American Dream. Or we could just totally screw our children and grandchildren and tell ‘em “Screw you. I got mine.”
“to reach for that American Dream”
2027 $300,000
....
2030 $270,000
....
2033 $240,000
To buy the American Dream in 2027 might turn into a nightmare.
Homebuyers might only be buying trouble.
Unless they are buying at or close to the lowest likely price, they are only buying problems.
Potential homebuyers need to learn what things can and should cost - the trusses, the windows, the concrete, etc.