2 possibilities:
1. Someone is lying about the figures, or
2. 60% of homes sales are paid fully in cash.
#2 is more likely. If so, either
a. Low-wage, part-time workers are buying them, or
b. Lots of speculators are buying.
#a is unlikely because they couldn't even afford the homes when prices were lower, what more at these elevated prices. #b is the most likely explanation, in which case huge losses can be expected soon.
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