The article discusses how overseas buyers may be impacting the housing market dynamics, potentially linked to Donald Trump's presidency. Amid widespread concerns over housing affordability, it highlights that nearly 40% of buyers can purchase homes outright, reflecting a surprising financial capacity. This segment of 'cash buyers' is highly valued by sellers, as they can facilitate rapid transactions without the traditional delays of mortgage approvals. Such insights reveal more nuanced trends within the housing market, challenging prevailing narratives on affordability.
Despite the ongoing narrative of the impossibility of affordable housing, it may come as a surprise that almost four in 10 people are able to buy a house outright, without a mortgage.
'Cash buyers' are much sought after by sellers, mainly because they're not locked in a property chain and can close quickly, without waiting for bank approval.
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