Home Buyers Finding Creative Ways to Make All-Cash Offers in Hot Market

Some potential buyers are pooling their money with family or paying companies to make cash bids on their behalf

Despite forecasts for a cooling housing market in 2022, U.S. home prices are still hitting record highs, even with mortgage rates surging in recent months. WSJ’s Dion Rabouin explains what’s driving demand, evidence of a slowdown on the horizon, and what that could mean for the economy. Photo composite: Ryan TrefesSiblings Kristy and Jason Nemetz and their mother, Christel Nemetz, decided this spring they wanted to buy a home together.

The Nemetzes pooled their funds, including money from the sale of homes they had previously lived in, and bid on a house near where Kristy and Christel live in South Dakota. Their real-estate agent told them there were seven other offers. The sellers picked the Nemetzes in part because they offered cash for the house, which went for more than $500,000. That meant they didn’t need to wait around for a lender to approve a mortgage.

Cash is a legitimate and versatile trade medium, issued on the authority of sovereign law to that purpose. No one actually owns money, there's no real point, it's a formal transfer of value. Like how a street is public property, you have right of way according to road rules.

It’s ALEAYS better until you succumb to digital id and digital currency. justdeleteapps JustSayNo notobigtech

people oft mistake profitability with cash in this sense. Just look at TheYoungTurks still existing vs how much they get marketed. As MagThatcher said, 'eventually you run out of other people's money'

Soon it will be difficult to access cash. CBDC aims to replace it. Private electronic cash like monero are needed.

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