More Seniors Paying Cash For Real Estate
National Real Estate Market Experts, "Boomers closing more cash deals!"
According to a recent report from Bloomberg, as more Baby Boomers retire, U.S. real estate experts are seeing more cash deals across the nation.
Evidently, these Baby Boomers (defined as anyone born between 1946 and 1964) are opting to purchase their homes with all cash instead of taking out a mortgage. Experts credit this in part to the fact that US home price gains have restored $3.8 trillion in value to home owners since 2012.
This means that a record number of Americans (including Baby Boomers) are using that equity to help them pay cash for properties, avoiding a home loan altogether. Another factor is that these Baby Boomers have more money in savings, allowing them the option to pay with cash.
This is an important trend that is sure to have an effect on all home buyers, not just those who fall in the Baby Boomer cohort. Read more of what was revealed CLICK HERE or COPY and PASTE the following link into your browser.