Precious Metals Forum

Go Back   Precious Metals Forum > Precious Metals and Economic News > Fiat Ponzi

Like Tree2Likes
  • 1 Post By Jay
  • 1 Post By PMBug

Reply
 
LinkBack Thread Tools
Old 01-24-2014, 07:52 AM   #1
Golden Cockroach
 
PMBug's Avatar
 
Join Date: Oct 2011
Location: In Scrooge McDuck's vault
Posts: 7,017
Liked: 2443 times
Real estate market becoming purvue for straight cash homeys

Quote :
RealtyTrac® ... today released its December and Year-End 2013 U.S. Residential & Foreclosure Sales Report, which shows that ...

All-cash purchases accounted for 42.1 percent of all U.S. residential sales in December, up from a revised 38.1 percent in November, and up from 18.0 percent in December 2012.

States where all-cash sales accounted for more than 50 percent of all residential sales in December included Florida (62.5 percent), Wisconsin (59.8 percent), Alabama (55.7 percent), South Carolina (51.3 percent), and Georgia (51.3 percent).

For all of 2013, 29.1 percent of U.S. residential sales were all-cash purchases, but the percentage trended substantially higher in the second half of the year. The 29.1 percent in 2013 was up from 19.4 percent in 2012 and 20.6 percent in 2011.
...
http://www.realtytrac.com/content/fo...es-report-7967



Read on another forum:
Quote :
Two things are going on--the primary cause is that hedge funds have gotten into property investment in a big way, and they are paying cash. The secondary reason is that many buyers who are having to compete against the hedge funds for the same property, but have the cash to do so but would prefer to finance, are paying cash to close quicker (using cash on hand or 401-K loans). These buyers may or may not then do a cash-out refinance to replenish savings.
Sounds like hedge funds are getting nervous about the equity markets, but aren't fleeing back to the manipulated (paper) gold markets (again).
__________________
The journey of a thousand miles begins with a single step. - Lao Tzu

Important stuff: PMBug 101 * Forum Guidelines * Support PMBug
PMBug is online now   Reply With Quote
Old 01-24-2014, 08:04 AM   #2
Jay
Yellow Jacket
 
Join Date: Jun 2012
Posts: 1,511
Liked: 671 times
looks like China is pretty much buying Detroit also. (house by house)
ancona likes this.
Jay is offline   Reply With Quote
Old 05-08-2014, 10:33 AM   #3
Golden Cockroach
 
PMBug's Avatar
 
Join Date: Oct 2011
Location: In Scrooge McDuck's vault
Posts: 7,017
Liked: 2443 times
Quote :
RealtyTrac®, the nation’s leading source for comprehensive housing data, today released its Q1 2014 U.S. Institutional Investor & Cash Sales Report, which shows the share of all-cash sales reached a new high in the first quarter even as the share of institutional investor purchases dropped to the lowest level since the first quarter of 2012.

The report shows 42.7 percent of all U.S. residential property sales in the first quarter were all-cash purchases, up from 37.8 percent in the previous quarter and up from 19.1 percent in the first quarter of 2013 to the highest level since RealtyTrac began tracking all-cash purchases in the first quarter of 2011.
...
More: http://www.realtytrac.com/content/fo...es-report-8052
ancona likes this.
__________________
The journey of a thousand miles begins with a single step. - Lao Tzu

Important stuff: PMBug 101 * Forum Guidelines * Support PMBug
PMBug is online now   Reply With Quote
Old 05-08-2014, 11:38 AM   #4
Yellow Jacket
 
ancona's Avatar
 
Join Date: Nov 2011
Location: Waaay south
Posts: 3,370
Liked: 2046 times
I just read an article on ZH describing how the regular folks are not able to get financing and that the vulture funds and institutional investors are snapping up property at an unbelievable rate.

When I tried to buy up the house next door to me, the guy told me that if I wanted to buy a house, it had to be all cash and i had to buy a minimum of 3 residential properties before it was worth his while.

What a load of crap.
__________________
All things being equal, the simplest answer is quite often the correct answer - Occam
ancona is offline   Reply With Quote
Old 05-08-2014, 12:08 PM   #5
Golden Cockroach
 
PMBug's Avatar
 
Join Date: Oct 2011
Location: In Scrooge McDuck's vault
Posts: 7,017
Liked: 2443 times
The ratio of cash purchases appears to be plateauing (and steady).
__________________
The journey of a thousand miles begins with a single step. - Lao Tzu

Important stuff: PMBug 101 * Forum Guidelines * Support PMBug
PMBug is online now   Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Peter Schiff - US Hasn't Had A Real Recovery Or Even A Real Recession Yet jprich16 Fiat Ponzi 6 05-09-2013 10:15 AM
Real estate over the next few years Unobtanium BSTS 56 01-04-2013 12:09 PM
gold is not real money (again) Jay Gold Bug 4 09-17-2012 04:34 PM
Real life Minority Report benjamen STS 10 07-02-2012 12:44 PM
Real Estate Recovery Is Only a Mirage Unobtanium Fiat Ponzi 11 06-25-2012 09:31 PM


All times are GMT -5. The time now is 10:22 AM.


Powered by vBulletin® from Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.6.0 PL2 ©2011, Crawlability, Inc.
Content of PMBug.com copyright © 2011 - 2019 Measuring Up. All Rights Reserved.