Cash buyers appear to be receding into the background these days as the downtown Boston real estate market adjusts to corona’s financial fallout.
It wasn’t so long ago that foreigners of single-family home and condo buyers paid cash.
“The rates are great but the underwriting is brutal. They hang these people upside down and shake them till they see what falls out of their pockets. So people are buying with cash and maybe they’ll ‘refi’ later.”