The Bicker Board

[Durian Fiend]

Most folks in the lower brackets that would be buying a house for $250k cannot pay cash for it.

Interestingly, in some parts of the world, most of Waipio Valley for instance, 'conventional financing' is not available because of the lack of the basics that lending institutions require; vehicular access, utilities, fire department in the area, permitted structures, outside of a flood zone... you know, the stuff our mortgage backed reality expect as a bare minimum to ante up.. and seller financing is the norm. It certainly ain't for the faint of heart but it does make the world go 'round..

The lending institutions require these so the property can be insured, correct?  

In the part of the world known as Greece, most home purchases are cash sales and very few people bother to carry insurance.