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In the past two years, many more investors have been doing the same. Thirty-four percent of completed home sales in January were paid for with cash, according to Campbell Surveys and Inside Mortgage Finance. That share has picked up from just a couple of years ago, and is far above the 10 percent range typical in a more normal market.
I don't know if this is a bad thing. This guy rescued this house. He will see that the mold is removed, fix the pipes, and put it back on the market. Sure he's profiting, but so are the neighbors that live next to this home. It pulls up prices overall in the end.
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lessismore · 4440 days ago · link ·
The reason for my title is because we've seen this all too often. Those who can least afford it get the short end of the bargain while those who were hurt least get to profit from the misery of the displaced.