This will correct over time as more get burned, but until then, spend responsibly. 2) Do not listen to any advice recommending that you enter into a THIRTY YEAR agreement with a bank where you pay them a monthly payment in exchange for primary residence shelter where the only way you can meet the obligations for such a contract over the lifetime of such contract is that you househack, renting out your bedrooms to likely...strangers...until you are dang near Medicare eligible.

I would also say that markets like Manhattan are not super representative of most markets in the US - a lot of foreign investment I'd imagine in NYC, Miami etc - I'd guess a lot of these cash purchases are more about exchanging unstable or risky foreign assets/currencies for perceived stability/safety of US top metro residential real estateI think in a lot of other markets where this isn't relevant - I think most are cash offers being "king" as not having appraisal or other contingencies that might sabotage the sale after 30 days or so and make people re-list (sellers will take less to avoid this risk and downside)

@James McGovern - my wife was in attendance and she and I own 20+ properties, a huge office building, have done multiple 1031 exchanges, Segregation studies, flips, private money, creative financing etc.  

Hey, question for anyone familiar with 1031 exchanges.

I have been toiling over investing in DST 1031 Exchange vs cashing out by paying capital gains.

Real estate has unique tax benefits, such as depreciation and 1031 exchanges, which can help lower taxable income.

Banks and credit unions can also offer flexibility for investors that engage in strong relationship-building strategies, offering discounts and solid loans in exchange for borrowers willing to use the institution for other purposes (savings accounts, etc.).

The market I exchange into will be heavily weighted towards an awesome PM, then the economic and demographic metrics of the area.  

See if you can find someone interested in letting you work for them in exchange for mentoring.1.

I would like to sell a rental property and do a 1031 exchange to buy a property from my mother's estate (I am a beneficiary).