In NYC's hyper-competitive real estate market, a new report finds cash is king

New York City's real estate market has become a cash-only affair, where buyers wielding cold, hard cash have an unbeatable edge. A recent report from the Center for NYC Neighborhoods reveals that all-cash transactions accounted for more than 60% of home sales in the five boroughs during the first half of 2025, with some neighborhoods experiencing rates as high as 90% of cash purchases.

Wealthy individuals and corporate investors are reaping the benefits of this trend, while everyday New Yorkers struggle to get a foot in the door. According to senior program manager Ariana Shirvani at the Center for NYC Neighborhoods, all-cash sales "tend to favor wealthy people and corporate investors... making it even harder for other New Yorkers to purchase a small piece of the city."

The report paints a stark picture of inequality in the housing market, where those with means can buy their way into homeownership while others are left out. Nationally, all-cash purchases made up about a quarter of home sales between July 2024 and June 2025.

In New York City, however, the situation is almost the reverse. The East Bronx, Queens, and other areas have seen cash-buys dominate transactions, with some buyers opting to pay full price upfront for properties valued at over $3 million in Manhattan. This trend has been fueled by institutional investors and speculators who seek to "flip" properties quickly, often at a profit.

The Center for NYC Neighborhoods is calling on lawmakers to take action, urging the passage of a new state law that would force owners to wait three months before selling to corporate buyers. The organization also advocates for an ownership disclosure law to reveal the identities behind anonymous companies scooping up homes and a "flip tax" surcharge on sales made within two years of a purchase.

As economists warn of a potentially grim economic outlook, homeowners facing financial distress due to unemployment, stagnant wages, and inflation are turning to cash-buyers in desperation. However, this trend is also exacerbating the problem, with new foreclosure filings nearly doubling over the first six months of 2025 compared to last year.

The ripple effects of this trend can be felt throughout the city's rental market, where people who sell property out of financial hardship often turn to rental units for their next home. This limits competition and perpetuates inequality, making it even harder for everyday New Yorkers to get a foot in the door.

ugh i feel so bad for ppl trying 2 buy homes in nyc right now it's like they're being priced out by these cash-only buyers who are basically just profiting off the system meanwhile, people who've been living paycheck to paycheck their whole lives are getting crushed by inflation and stagnant wages and dont even get me started on how hard it is 2 find a rental unit thats not going 2 be some high-rise luxury building that's out of reach 4 most ppl

I think its wild that 60% of homes are being bought with cash . It's like those who have means can just buy whatever they want and dont have to worry about anything else. Meanwhile, people trying to buy a home are getting priced out. Its not fair . I mean whats going on? Are we living in some kind of fantasy world where money talks louder than anyone else?

What do you think is the main reason for this trend, though? Is it just the wealthy investing more or is there something deeper going on?

Oh, and another thing - how are those people who turn to cash-buyers going to pay their mortgages when they can barely make ends meet? Its like they're just passing the problem to someone else.

I'm not too worried about this cash-only situation in NYC real estate. I mean, sure, it's crazy that 60% of homes are being bought with cold cash, but think about all the opportunities it's creating for everyday people! Like, have you seen those amazing fixer-upper apartments going up for sale? Some super savvy buyers might be able to snag a deal if they're willing to take on some renovation work. Plus, who knows, maybe this is just the spark that gets innovation in construction happening again - more affordable housing, yada yada...

I also think it's interesting how some areas of NYC are experiencing such high cash-buys rates. The East Bronx and Queens are like, totally on the rise! Maybe this trend will bring in new businesses, new people, and new energy to these neighborhoods. We just need to make sure that the benefits aren't just going to a select few, but that's not all bad - more options for buyers means more choices for renters too!

I'm really worried about what's happening with the real estate market in NYC . It feels like only the wealthy can afford to buy homes, and that's just not fair. I've got friends who are struggling to find affordable housing, and it's getting harder and harder for them to make ends meet.

The idea that all-cash transactions are becoming the norm is just crazy . It's like they're above the law or something! And what really gets me is that there are already laws in place to try and help people struggling with foreclosure, but it seems like no one's paying attention to those.

It's not just about the housing market, though - it's also about the ripple effects on the rental market . When people lose their homes, they often end up renting, which drives up prices even more! It's a vicious cycle that's only making life harder for everyday New Yorkers.

I think we need to do something about this ASAP . We can't keep letting the wealthy get away with buying up all the good properties and leaving the rest of us to fight over the scraps. Something needs to change, and fast!

I'm worried about what's happening with NYC's real estate market . It sounds like only the wealthy can afford to buy homes with cash , which is insane! Meanwhile, regular people are being priced out and forced to turn to rental units as their next home . This just perpetuates inequality and makes it even harder for everyday folks to achieve homeownership.

I mean, think about it - if someone's got the means, they can just pay cash upfront and swoop up a property in no time . But what about those who don't have that kind of cash? They're stuck renting or struggling to make ends meet . It's not fair and it's not right.

We need some real solutions here, like the Center for NYC Neighborhoods is proposing - like waiting periods before selling to corporate buyers or disclosure laws to reveal anonymous companies . Something has to be done to address this inequality and give regular people a chance to own their own homes .

NYC is basically a cash cow for rich folks

I'm seeing a lot of rich folks making moves on homes, while regular people are just trying to get a toe-hold It's like they're not even playing by the same rules as everyone else. And it's not just NYC - I've seen this happening in other cities too, where cash-rich buyers are swooping up properties and leaving nothing for the rest of us

I'm so done with this cash-only nonsense in NYC real estate. It's like the wealthy are playing a whole different game from everyone else. I mean, who needs a mortgage when you've got cold hard cash just lying around? And don't even get me started on the institutional investors and speculators who are just flipping properties left and right. It's like they're sucking up all the homes without ever actually living in them.

And what really gets my goat is that this trend is making it impossible for regular people to buy a home in NYC. I know friends who are struggling to save for a down payment, let alone afford the monthly payments. Meanwhile, these cash-rich buyers are just walking into properties like they own the place. It's like the system is rigged against us.

I'm all for fair competition, but this trend is taking it too far. Can't we get some kind of law to level the playing field? Maybe something that requires owners to wait a few months before selling to corporate buyers or at least disclose their identities behind anonymous companies? It's time someone stood up to these cash-rich tycoons and said, "Hey, this isn't fair!"

I'm seeing this trend everywhere . Like, I know we live in one of the most expensive cities in the world, but 90% cash purchases? That's wild . It's like, anyone with deep pockets can just swoop in and buy up properties without even having to get a mortgage. Meanwhile, us everyday folks are stuck on the sidelines trying to scrape together for a down payment . And don't even get me started on the rental market - it's like they're kicking people out onto the street . Something needs to be done, you know?

omg u gotta see dis! NYC real estate is literally become all about cash only now and it's so not fair to regular people! rich ppl & corporate investors are raking it in while others struggle 2 even buy a place lol i mean, like, what can u do? if ur poor u cant get ur foot in the door no matter wut u do. and its not just cuz ppl dont have enough savings either...its like, who's got that kinda cash lyk $3m+ homes r sellin 4 cash only in manhattan idk what kinda economic mess we r in