Which part of the Bay Area do they represent? This sounds unusually high to me. What I see more of is people just moving or planning to move back into their parents’ homes when they have kids and doing some ADUs, expansions to accommodate.
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Mostly down payment but depends. At this point it’s hard to get a house without all cash. My parents couldn’t even afford to buy me a nice bike so I’ll be a renter forever. (Also im a teacher)
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As a non-CA resident, why is it hard to get a house without all cash? That sort of boggles my brain a bit.
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Not unheard of for parents to be the mortgagor, which would be all cash from the seller/broker perspective. Also: "local maxima of fraught intra-family relations for 500, Alex".
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"cash" may just mean no contingency for a loan, perhaps by using marginable securities? (Not saying this isn't notable and worrying, but "cash" is often ambiguous)
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My coworker was looking to buy in the East Bay and said she was up against mostly all-cash offers too
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yeah. it's rough right now.
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In 2015 several agents in Boulder said 80-85% of sales they handled were all cash. close w/o a bank loan. Parents help w cash and kids take out mortgage from bank after closing or parents carry loan. With 20 offers, sellers demanded all cash offers
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