All-cash home sales reach new high

万得福

http://finance.yahoo.com/news/cash-home-sales-reach-high-174855788.html

All-cash purchases accounted for 42% of all sales of residential property in November 2013, up from 39% during the previous month, according to data from real-estate data firm RealtyTrac released Friday. “This is still a very cash- and investor-driven market,” says Daren Blomquist, vice president at RealtyTrac.

The cities with the biggest month-over-month jumps in the number of all-cash sales, according to RealtyTrac, included Florida (63%), Georgia and Nevada (both 51%), South Carolina (50%) and Michigan (49%). This helped boost overall sales of U.S. residential properties, which sold at an annualized pace of 5.1 million in November 2013, a 1% increase from the previous month and a rise of 10% from a year ago.

When interest rates went up slightly in June, there was a notable increase in cash sales, Daren Blomquist says. “Some markets are more interest-rate sensitive than others based on affordability,” he says. “Just a slight increase makes homes a lot less affordable.” In fact, another report by Goldman Sachs in August was even more strongly in the cash-is-king camp, estimating that cash sales now account for 57% of all residential home sales versus 19% in 2005. Walt Molony, a spokesman for the National Association of Realtors, says that the association’s estimate of the share of the market made up by all-cash buyers is lower than others’, at 31% in July, but that it’s still at an all-time high.

Molony says that investors make up 32% of all-cash buyers (70% of all investors pay cash), up from 31% in October and 30% in November 2012, while retirees who’ve built up equity in their homes or paid off their mortgages account for around 12%. The rest include vacation-home buyers and foreign buyers.

While cash buys help explain the surge in home sales over the past year, some experts say it’s an unsustainable trend — and one that should be greeted with caution.

Although RealtyTrac doesn’t identify who has cash-in-hand, experts say wealthy Americans and downsizing retirees account for some of these all-cash deals. Investors who are keen to make a profit by buying low and renting those properties — or flipping them — also drive up the number of all-cash deals, he says. None of these three groups — flippers, retirees and the wealthy — are big enough to sustain the market in the long run, he says. If it remains dominant in the long run, cash buying “will have a chilling effect on home sales and prices,” Blomquist says.

万得福

     

After a re-read of this article, the stats they quote as current are outdated. According to Realty Radar, all numbers have headed south since Nov, and what the article portends to happen (flippers and investors dropping out, fewer cash sales...) is already a reality. The media's allusion to nation-wide RE recovery is untrue - only some areas have experienced a rebound. Agree with Barbara - why would a cash sale be of concern, except for the fact the Volcker Rule is just around the corner.

this article is a lie ..the cash buyers are investors who are flipping and the properties are predominately short sales or foreclosures . regular mainstream buyers are pushed aside for the insider cash buyers who have corrupted the process of buying a foreclosure .. the housing market is in turmoil and is headed for a disaster again because of government interference

ssgo2008

中国现金投资者？

archers

怎么会这么多现金流

kaleege

都是从中国来的贪官？

万得福

全美房地产经纪人协会最新报告显示，从2012年3月至2013年3月，中国人于一年时间内在美购房的总价值达123亿美元，占当年外国人在美购房总额的18%，成为美国房市中仅次于加拿大的第二大外国买家。2011年3月至2012年3月，中国人在美购房投入为74亿美元。
　据美国《华尔街日报》统计，自2004年以来，中国民营企业和非国有上市企业的海外并购数量一直稳步增长。2013年迄今为止共完成交易238笔，金额243亿美元。在本土已大赚特赚的中国投资者现在把投资目标投向海外市场，以期寻找更安全、更稳定回报的资产。他们正撤离中国本土昂贵的房地产市场，且日益升值的人民币让纽约、旧金山等地的房价看起来不再是那么高昂。

　　英国《经济学人》杂志将中国投资房地产市场的行为与日本上世纪80年代投资美国房地产市场的行为进行了比较，认为中国私人资本的海外投资目前看上去更为合理。

　　1989年，日本三菱集团花费14亿美元购买洛克菲勒中心大厦的举动被认为是美国衰落、日本崛起的象征。但随后日元升值、日本房地产泡沫破裂，经济出现萧条，而美国则趁机将洛克菲勒中心以低价回收，三菱集团损失超过10亿美元。
http://www.wenxuecity.com/news/2014/01/04/2914025.html