Reply to 43% of home purchases are all cash

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Only first time homebuyers put down just 20%!

On our second home we put down 60%. It's easy. Live your life on one income and save the other's income. [/quote]

Do you live in the DC metro? Or are you married to a law partner? or you are are old. B/c with daycare running $3k/month for two kids, mortgage for a basic starter home at $3k/month, you have to clear $200k to 'save the other's income'.[/quote]

No. We make HHI 180k. We aren't Asian (although I do agree they are good savers). We don't have children yet, but considering our mortgage is only $1500 on our 700k house, it won't be such a struggle with daycare. We lived on one income since we got jobs and saved 60k a year. We still take great overseas vacations and don't feel pinched at all. [/quote]

You've been saving 60k/year for 7 years?  Did you start out of college making almost $200k or are you just putting off children until your late 30s?

Why didn't you just take out bigger mortgage, put your savings into CD earning 2%, and then peel off some of that every month to augment mortgage? Basically CD would cover your interest and if rates rose, you would be golden.[/quote]

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