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"Flipper Cash" Propping Up Housing Market

By Implode-Explode Heavy Industries

``in all that news, there's a number that jumps out: Almost one-third of the home sales were in all-cash deals. Before the housing bust, less than 10 percent of sales were in all cash, according to the National Association of Realtors. Who buys houses with a big stack of cash? Often, people like Craig Fuhr. He's been investing in real estate around Maryland for the past seven years. The license plate on his SUV defines his style of investing. It reads: "flippin."''

Full post as published by Mortgage Lender Implode-o-Meter on August 29, 2010 (boomark / email).