I am an ex banker and Financier and cash strapped does not mean mortgage stress. It means that they are not necessarily holding much cash and have several other liquid assets - one of which and usually the easiest one to convert to cash is used to replenish some cash for them. New home owners generally reduce their cash reserves quickly as they furnish and setup the new home to live in. As expected Lev took advantage of a small parcel at the low price.
I am an ex banker and Financier and cash strapped does not mean...
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