Quote:
Originally Posted by Altavia
It's been reported up to 80% of home sales here are cash.
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That's true, but there is the chain reaction effect. Newcomers have to sell their homes up north to buy in TV. People buying those homes up north will likely have mortgages, and the selling price of those homes may be less due to higher mortgage rates. In turn, the newcomers will have less proceeds to spend on their new home in TV. So they may be more sensitive to what they pay in TV. Trading one home for another of similar price is easier to swallow.