Cash is Still King

According to Inman Real Estate News:  Not everyone gets a mortgage when buying a home.  Today cash is King and the big differentiator is age in those who purchase with cash.   Only 2 percent of the participating buyers ages 25-44 paid all cash, compared to 13 percent of baby boomers (ages 45-64).

The biggest opportunity is with those 65 and up, the survey results suggest. A whopping 36 percent of respondents in this group paid all cash for their purchase. This coincides with the fact that despite the tough market, approximately 35 percent of all Americans own their primary residence free and clear.