Interest rates on mortgages increased over the summer, and lenders are still holding back on loans, but the cause of the surge in all-cash home sales is a cause for concern for the long-term health of the housing market.
A new report by RealtyTrac includes data showing that all-cash purchases accounted for 42.1 percent of all residential sales in the United States in December, up from about 20 percent at the beginning of 2013.
Julia Zhu, reporting the news of the data, quotes Daren Bloomquist, vice president, of RealtyTrac, to discuss the implications of the trend, which is described as a “red flag” for the housing market: “"It's like we put the fate of the housing market in the hands of the wealthy few…Hopefully we can see the number of cash buyers go down. That's what we need to see for long-term recovery."
FULL STORY: An Astonishing Share Of Homebuyers Are Paying All Cash

Trump Administration Could Effectively End Housing Voucher Program
Federal officials are eyeing major cuts to the Section 8 program that helps millions of low-income households pay rent.

Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

Canada vs. Kamala: Whose Liberal Housing Platform Comes Out on Top?
As Canada votes for a new Prime Minister, what can America learn from the leading liberal candidate of its neighbor to the north?

Washington State’s Parking Reform Law Could Unlock ‘Countless’ Acres for New Housing
A law that limits how much parking cities can require for residential amd commercial developments could lead to a construction boom.

Wildlife Rebounds After the Eaton Fire
Following the devastation of the Eaton Fire, the return of wildlife and the regrowth of native plants are offering powerful signs of resilience and renewal.

LA to Replace Inglewood Light Rail Project With Bus Shuttles
LA Metro says the change is in response to community engagement and that the new design will be ready before the 2028 Olympic Games.
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