One of the largest being the liquidity through that economic base, or to simply say the market of potential sellers being in positions of ample financial positions, through multiple measures, creating a low reward high risk environment to engage in a sale, plus no mechanisms to force sale actions. 

I don’t have enough liquid!!

@Matthew SwearingenIf you insist on overpaying the mortgage, I hope you at least put the overpayment into a liquid,side account in case things go south for you instead of sending it to the mortgage company every month. 

I'd imagine in January 22 the rate was closer to 5.5%..I anticipate a complete stall of the luxury real estate market except for those transactions needing or wanting to transfer or liquidate assets and can afford cash purchases at much more reasonable price points. 

Just a thought with that amount of liquid capital, it would be quite easy to get involved in private lending and make some immediate cash flow in the next 30 to 60 days.

In order to access the equity (which on a flip is the profit), you must sell the property...and "melt" the cash to a liquid state.Each form of cash has its own role:1 - Cash flow must recover all costs,...cost being all the cash (and only cash) that comes out of the REI pocket into the deal.2 - Equity, must duplicate itself thru appreciation (only). 

Knowing the true liquidation value is also important in case you have to sell. 

I like the terms of a "in my name" mortgage , rather than a commercial loan through an LLC, so that I can maximize cash flow and keep as much cash liquid as possible for the time being.

Those are good returns for passive investing and great liquidity.   

Perhaps-> There are coatings that are called Liquid Rubber (good stuff!)