patrick.net

Most people are paying cash now, foregoing the mortgage and debt trap entirely.

Recent college graduates, well aware of the perils of debt thanks to their crushing student loans, have opted to write checks for their first homes. Older buyers, burned by past experiences with mortgage debt, have foresworn it, and are also going all-cash.

Great news for the housing market!

HydroCabron says

Recent college graduates, well aware of the perils of debt thanks to their crushing student loans, have opted to write checks for their first homes.

Is this sarcasm?

Blah, mortgages are a product of the 20th century. Everyone has enough money these days. Remember, if you need a mortgage, you weren't going to win the bid, anyway.

nw888 says

HydroCabron says

Recent college graduates, well aware of the perils of debt thanks to their crushing student loans, have opted to write checks for their first homes.

Is this sarcasm?

No he's being totally serious. After racking up over $100,000 in stuent debt and then finding out that liberal arts degree is not carrying any weight in the corporate world; students are tapping their savings and paying cash for a home without a job. Personally, I know 100's of students doing this.

...of course it's sarcasm

most kids leverage their inter-generational resources, whether it is to pay off debt or buy a new home.

Oxygen says

most kids leverage their inter-generational resources, whether it is to pay off debt or buy a new home.

That's not true. "Most" kids don't have any inter-generational resources to speak of. Older people are increasingly working past retirement age just to pay their own bills, how are most also going to pay for their kids?

But yes, I agree a fortune few are able to tap their parent's resources for down payments.