"Cache buyers" does not really mean people buy houses with their disposable funds. It means only that the deal does not involve a mortgage contract. The deal can still be financed through a loan, just not a mortgage. During the highly competitive market in 2021 people had been takin such loans to make cache offers and beat competition [1]. Also we had massive emigration from the states with high RE prices such as CA and NY to TX and FL, with much lower prices. These emigrants might have had enough equity in their old houses to buy a whole house in the new place too.
But it would really be great if your assertion had been true, in 2021 alone 6M houses had been sold so there would be at least several million people so rich that they buy houses like groceries.
But it would really be great if your assertion had been true, in 2021 alone 6M houses had been sold so there would be at least several million people so rich that they buy houses like groceries.
1. https://www.npr.org/2021/12/06/1061896221/everyday-people-ca...