02-25-2020, 08:16 AM
(02-24-2020, 10:30 PM)SunsetBengal Wrote: Those factors that you mention may have some impact on the legitimacy of some of those millionaires, but I believe the trend to be real. I work in Surveying, in one of the hotter real estate markets in the Nation, the Raleigh-Durham area. I took a year and a half hiatus from infrastructure and commercial site development to work for a firm that specialized in builders of new homes. During my time there, I was able to view many of the closing lists that our clients provided, about half of the clients spreadsheets listed method of payment, be it traditional financing with name of institution, or cash. I was astounded to see that on average, about 20% of these new homes were bought with cash. We're not talking cheap, starter homes, these are fine houses and townhomes in very affluent neighborhoods with a price range of $350K-$1M+.
None of that actually refutes what I said. Both what you are saying and what I am saying can be true at the same time.
"A great democracy has got to be progressive, or it will soon cease to be either great or a democracy..." - TR
"The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little." - FDR
"The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little." - FDR
