Very interesting! Lending for mortgages to purchase homes fell to $115 billion in the first quarter, the lowest in three years, according to the Mortgage Bankers Association. In the first three months of 2014, buyers plunked down $105.1 billion of their own money for properties, compared with $84.7 billion a year earlier, according to Bloomberg data. The share of purchases made by investors, who typically pay cash, dropped to the lowest first-quarter level since 2010. “The whole investor class, the ones doing most of the cash purchasing until now, is stepping back,” Baby boomers are taking their place.”
Posted on: Wed, 04 Jun 2014 03:24:48 +0000
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