patrick.net

http://finance.yahoo.com/news/homebuyers-getting-priced-housing-markets-100400057.html

"Many big metros are incredibly hot sellers' markets right now," said Stan Humphries, chief economist for Zillow.

"What's crazy is how many people here are capable of putting in all-cash offers," said Cittadino.

In the Bay Area, the cash is coming from deep-pocketed tech workers. In New York, Wall Street workers, flush with bonus checks, and foreign buyers looking to park assets, are paying with cash. Meanwhile, South Americans have been buying up real estate in South Florida as a safe haven for their money. In February, more than 71% of sales in the Miami area were all-cash deals.

#housing