This morning's Wall Street Journal carried a front page headline of 'Cash Buyers Lift Housing.' I really listen up when monied people start taking action -- on anything. Of course, folks with solid bank accounts make mistakes; but, in general, they make more smart moves than the rest of us. Making smart moves helped get them into the financial situation they enjoy today.
The jist of the article was that these folks are betting that home prices are at or near bottom. Who knows? The piece refers to states that have experienced much greater high and low extremes than Colorado - especially Northern Colorado. Our real estate market has suffered, but at a different level.
Reading this piece caused me to think back over the last 6 months, and I think more than a typical number of my closings have been cash transactions. I hadn't really zeroed in on that before.
What do you think?
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