For Buyers in NYC's Suburbs, Cash Is King

·3 min read

Now that New York has lifted the pandemic-related restrictions it imposed earlier on in the outbreak, we could see a huge influx of people eager to rent out city homes or purchase city real estate of their own. One common destination where former city dwellers flock to is Long Island. More than 50% of home sales recorded from the start of 2021 through April for Long Island's Nassau and Suffolk counties were recorded in cash -- meaning there was no home loan associated with those sales, according to Redfin.

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