“Mortgages are much tougher to get these days, requiring higher down payments, more expensive mortgage insurance, lower overall debt levels, and more. Excessive student loan debt and lingering psychological damage from the last housing bust are deterring first-time buyers. All-cash-investor-locusts swarmed over the market the past couple of years to buy up property and rent it out. That has helped drive double-digit price increases in many markets. Unfortunately, wage increases, salary hikes, and population and economic growth haven’t kept pace. As investors turn from buyers into sellers again, it will put the kibosh on the way-too-fast price increases we’ve been seeing.”
http://www.moneyandmarkets.com/want-a-house-be-rich-and-pay-cash-61593
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