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(Marketwatch)   In another sign of a strong economy, almost 43% of US home sales in the last quarter were paid for in cash by the 0.43% of the population who still have cash   (marketwatch.com) divider line 21
    More: Spiffy, Quentin Fottrell, Great Recession, RealtyTrac  
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436 clicks; posted to Business » on 08 May 2014 at 12:09 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



21 Comments   (+0 »)
   
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2014-05-08 11:34:47 AM  
that's not a sign of a strong economy, that's a sign of housing being bought up by investment groups and foreign investors who are then renting them out to the serfs
 
2014-05-08 12:11:51 PM  
Which is why rents are at an all-time high.
 
2014-05-08 12:13:04 PM  
Last time I checked, you can't purchase auction items on credit.
 
2014-05-08 12:22:18 PM  

Random Anonymous Blackmail: Last time I checked, you can't purchase auction items on credit.


And the larger point goes whoosh, over his head.
 
2014-05-08 12:24:58 PM  
I don't understand how this is a good thing.  Those who already own homes, their values get bumped up.  Those who don't, find it harder to make the leap from apartments to the middle class, thus building up any kind of equity.  This is just more widening of the wealth gap, but hey if you want to take the average and claim it's moving upwards, then good for you.
 
2014-05-08 12:26:35 PM  
well, when they ask us to fight another oil war for them, let's all just take out our dicks en masse and wave them at the rich people.
 
2014-05-08 01:35:38 PM  
Meanwhile, I'm having trouble even picturing how I'm ever going to be able to save enough cash for a down payment.
 
2014-05-08 01:48:45 PM  
so which 1%er is buying up real estate? Did Trump suddenly need a few thousand extra houses
 
2014-05-08 01:48:55 PM  

GleeUnit: Meanwhile, I'm having trouble even picturing how I'm ever going to be able to save enough cash for a down payment.


I don't know why you would want to do that.
Never become a bank's serf.
Nevar.
 
2014-05-08 01:54:34 PM  

HotIgneous Intruder: GleeUnit: Meanwhile, I'm having trouble even picturing how I'm ever going to be able to save enough cash for a down payment.

I don't know why you would want to do that.
Never become a bank's serf.
Nevar.


You prefer paying somebody else's mortgage?
 
2014-05-08 02:11:42 PM  

MugzyBrown: HotIgneous Intruder: GleeUnit: Meanwhile, I'm having trouble even picturing how I'm ever going to be able to save enough cash for a down payment.

I don't know why you would want to do that.
Never become a bank's serf.
Nevar.

You prefer paying somebody else's mortgage?


I don't recall addressing you.
But if you think "buying" a house isn't paying the mortgage, upkeep, and taxes (oh my!)  forthe bank, you need to go back to school.
 
2014-05-08 02:24:57 PM  
Chinese 'investors' or rich-white repubs
 
2014-05-08 02:33:31 PM  

HotIgneous Intruder: I don't recall addressing you.
But if you think "buying" a house isn't paying the mortgage, upkeep, and taxes (oh my!)  forthe bank, you need to go back to school.


Considering the bank paid for the house, it's only fair.

At least I get to get some tax breaks and eventually the payments to the bank end.
 
2014-05-08 02:44:16 PM  

ModernPrimitive01: so which 1%er is buying up real estate?


Steve Schwartzman. Blackstone Group.

I have a little cash and I am debating buying property, or waiting for the stock market correction and scooping up value stocks as they skim along the bottom.
 
2014-05-08 03:09:31 PM  
In any market climate, poor people will get shafted because they are always the least equipped to deal with/take advantage of market conditions.   Welcome to the free(ish) market.

High property prices?  The poor can't get a home and the middle-class/rich get tax breaks and rising property values.
Really high property prices?  Only the rich can afford them, everyone else takes on crippling debt with interest rates being paid to rich people.
Low property prices?  The rich buy up lots of houses, paying cash, and turn around and rent them.
 
2014-05-08 05:29:04 PM  

HotIgneous Intruder: MugzyBrown: HotIgneous Intruder: GleeUnit: Meanwhile, I'm having trouble even picturing how I'm ever going to be able to save enough cash for a down payment.

I don't know why you would want to do that.
Never become a bank's serf.
Nevar.

You prefer paying somebody else's mortgage?

I don't recall addressing you.
But if you think "buying" a house isn't paying the mortgage, upkeep, and taxes (oh my!)  forthe bank, you need to go back to school.


You're not paying taxes or "upkeep" for the bank or the mortgage.  The interest on the loan is the only thing "forthe bank".

Maybe you need to go back to school... or do you just assume everyone defaults on their mortgage because you can't hold a job?
 
2014-05-08 05:30:50 PM  

HotIgneous Intruder: MugzyBrown: HotIgneous Intruder: GleeUnit: Meanwhile, I'm having trouble even picturing how I'm ever going to be able to save enough cash for a down payment.

I don't know why you would want to do that.
Never become a bank's serf.
Nevar.

You prefer paying somebody else's mortgage?

I don't recall addressing you.
But if you think "buying" a house isn't paying the mortgage, upkeep, and taxes (oh my!)  forthe bank, you need to go back to school.


At least there's some equity gained in doing all that.  Not so for paying thousands of dollars a year in rent to some (admittedly very nice) lady who DOES own my apartment.
 
2014-05-08 09:46:19 PM  

sluck604: HotIgneous Intruder: MugzyBrown: HotIgneous Intruder: GleeUnit: Meanwhile, I'm having trouble even picturing how I'm ever going to be able to save enough cash for a down payment.

I don't know why you would want to do that.
Never become a bank's serf.
Nevar.

You prefer paying somebody else's mortgage?

I don't recall addressing you.
But if you think "buying" a house isn't paying the mortgage, upkeep, and taxes (oh my!)  forthe bank, you need to go back to school.

You're not paying taxes or "upkeep" for the bank or the mortgage.  The interest on the loan is the only thing "forthe bank".

Maybe you need to go back to school... or do you just assume everyone defaults on their mortgage because you can't hold a job?


Whooooaaa, you can't just "own" property...man.
 
2014-05-08 09:49:24 PM  
Lots of older people downsizing around here. Moderately priced/sized homes on nice lots are selling well, and so are the lots they go on. McMansions... Not so much. Fortunately, housing around here never reached the insane heights it did in some markets.
 
2014-05-09 01:00:16 AM  
Hey, whatever - investment buyers have scooped up some real stinkers on my block for dirt cheap and nicely rehabilitated them.

Free market actually working?
 
2014-05-09 07:02:25 PM  

HotIgneous Intruder: I don't recall addressing you.


You've been here for several years now. I think it's about time you learned that this a public forum. Maybe look up some of those words and try to figure out how posting in a public forum might lead to responses from people besides those who you were directly addressing.
 
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