You wouldn't believe how many people buy a home with cash. According to a study on a nationwide level 38 percent of all homes bought in 2011 were cash deals. That is double the rate of 2006 and 5 percentage points higher than 2010. The high share of cash deals is an amazing fact especially since interest rates are at historical lows of around 4 percent.
Investment money is shifting to real estate because yields are low in the financial markets. On the other hand many potential buyers cannot get mortgages because they previously went through a foreclosure or short sale and do not qualify yet. Lending standards are tight. The result is a real estate market that excludes so many who would love to buy a home while offering tremendous opportunity to others.
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