The sudden death of the American condo

[JManc]

Originally Posted by Steely Dan

For real?

Maybe it's a "stage of life" thing, but I don't know any middle-aged peers (family, friends, neighbors, co-workers) who paid cash for their homes.

The VAST majority of regular people do not have multiple hundreds of thousands of dollars of liquid capital on hand to do that.

Is that stat perhaps being skewed by corporate/institutional buyers?

Me neither and those who probably could have that money invested elsewhere with a higher rate of return than eliminating mortgage interest. Same thing with cars.