Comments about ‘Mortgages down: Using cash to buy homes is on the rise’

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Published: Monday, May 19 2014 10:58 p.m. MDT

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Midwest Mom
Soldiers Grove, WI

Yet another example of how having an uber wealthy class is destroying America. Soon, we will be like Europe, where only the very wealthy own property. Income has been stagnant for so long and may jobs now pay less than before the recession. People need to rent, so those who have buy up all the starter homes and charge way more to rent them out than the people would pay, in a mortgage payment, if they were buying. The end of the American dream.

Johnny Triumph
American Fork, UT

I'd like to know who all these people really are and why the media wants to advertise this. Certainly the majority of Americans buying homes must use a loan.

ipr
Spanish Fork, UT

Buying a home cash is doable and you don't have to be a part of the upper wealthy class to do so. We followed the teachings of the prophets and got out of debt as fast as we could, including our house. The next house was paid in cash, and we're not part of the rich. Dave Ramsey has some great suggestions. As far as the Europeans are concerned - it used to be that people rented, but now a large section of the population is buying their homes. Times are getting tougher, but we are also becoming more knowledgeable due to the internet. The American dream is still possible.

Midwest Mom
Soldiers Grove, WI

Good for ipr in Spanish Fork, but that's not where all the cash buyers are coming from. Remember the recession when so many people lost their shirts? Some made money. In Minneapolis, where a relative lives, out-of-state corporations are buying up starter homes so that they can rent them out. It's very hard for a young family to get into the housing market. Wages are going down in America, so more people are renting. Hence the grabbing up of family-affordable housing. Sad.

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