✉news BusinessReal Estate first seen 1 d ago, last 16 h ago, peak #1
America's New Housing Market Skews Luxury and Cash
Original: America’s New Housing Market Is All About Luxury—and It Runs on Cash
The Wall Street Journal reports that new-home construction in the United States is increasingly centered on the high end of the market, with luxury properties dominating and many purchases made in cash rather than with mortgages. The shift reflects how elevated interest rates and affordability pressures have squeezed out typical first-time buyers, leaving wealthy, cash-paying buyers as the main customers for builders.
Why now: Housing affordability is a top concern for Americans, and reports of a luxury-only, cash-driven new-home market highlight how locked out ordinary buyers have become.
United StatesWall Street JournalUS housing market
Evidence
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