But he notes that cash is still king when it comes to pricey properties in downtown Boston and in Cambridge: “Basically wealthy buyers who have been stashing away cash for years and are now making their move.”
He adds: “Fewer cash buyers certainly would be good news for average buyer who has to rely on getting a mortgage to buy a house.”
It’s incredible how much of the housing market recovery has been fueled by all-cash deals, driven partly by all-cash foreclosure auctions and wealthy investors.
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Updated: January 2018