Have Young Buyers Been Priced Out

Dated: February 13 2014

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While last year’s rising home prices brought relief to many underwater homeowners, allowing many older homeowners with increased net worth to purchase new homes, they also precluded many young first-time buyers from purchasing, according to a report from Houston, Texas-based BBVA Group, a global financial services firm.“Older homeowners are increasingly able to purchase a new residence with cash only after they sell their current home,” said Jason Frederick, an economist for BBVA Compass.In December 2013, 42 percent of residential home sales were made in cash, a significant increase from just 18 percent a year earlier. Read more...
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Mark Ross

For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 25+ years in the industry, Mark has gained experience in....

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