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Real Estate
Reply to "When million-dollar-plus homes are purchased, do people put more than 20% down?"
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[quote=Anonymous]I work in housing finance, and I would say that although it is not uncommon for people to pay cash for homes that 1.5m plus, it is also not the norm. I know a number of people that have taken out sizable mortgages when they could have paid cash because it was financially advantageous to do so. Hell, Mark Zuckerberg has a mortgage (http://www.bloomberg.com/news/2012-07-16/zuckerberg-s-loan-gives-new-meaning-to-the-1-mortgages.html), and we all know he could pay cash several times over. [quote=Anonymous] Everyone we know with $1.5m+ homes paid cash entirely, including us. Our financial advisers know what they are doing. Snarky people still try to gossip, but that is why they are bitter, because they will always be no more than a gossip. [/quote][/quote]
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