Cash talks: 56 percent of recent sales have no loanAugust 19, 2013 @ 9:46 am
More than half of all homes sold - nearly 56 percent - in the past 18 months have been purchased mortgage-free, according to economists at Goldman Sachs Group.
Before the housing crash, about 20 percent of all homes sold were purchased without financing. All-cash sales have more than doubled over the last seven years.
The large share of cash buys are most likely from investors, foreign buyers, and wealthy home owners, the report noted.
The Goldman Sachs analysts used data from the National Association of Realtors Census Bureau, Mortgage Bankers Association, and Lender Processing Services to arrive at their calculations.
The man behind a staged child abduction apologizes for scaring young kids, parents
An army of volunteers is making sure mudslide searchers get to put on warm, dry clothes
Two airlines are battling for your business and you're the winner
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.