Cash ISN'T King?!?

Real Estate Analysts say cash is no longer king. However, the founder of Door.Com, Alex Doubet says, “Cash is always king when it comes to real estate transactions. But --- I think last year was really a historical apparition in terms of how many people were buying homes with cash” He says that's because the housing market was so competitive. Mortgage interest rates are low now as well. Doubet explains some simple economics when it comes to interest rates and home purchases. “When interest rates are low it makes real estate prices go up.That’s because there’s a relatively bigger buyer pool because more people can buy on credit cheaply.” (Well...you can't have everything.)

Doubet continues, “The reduction of cash home buyers is really a good thing. It means that homes just aren’t quite as competitive as last year." The bidding wars have mostly ended.

Housing Sales Decline As Market Cools

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