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Cash Only

A recent blog post over on Forbes outlines the phenomenon of buying a house without a mortgage and a handy chart shows some of the hard-hit cities with the highest cash purchases. Miami tops the list, not surprisingly, but that got us wondering about DC (which perhaps hasn't been hard hit enough to make the list). Since part of the research was compiled by Jonathan Miller, who contributes to Curbed when he's not appraising properties, he did us a favor and calculated the percentage for the Washington Metro Area. Using data from MRIS/RBI he tells us that 18.5% of sales are mortgage-free for the DMV. [Forbes; previously]