This is in the US, but I suspect that it is prevalent worldwide, given the global lopsided distribution of wealth combined with the need for crime syndicates (that masquerade as leaders of some countries) to launder money:
A new report from Goldman Sachs estimates that the number and dollar volume of homes purchased with all cash has risen to more than 50 percent nationwide, significantly higher than previous estimates.
The company said the number of all-cash deals hit 57 percent in the first quarter of this year compared with only 19 percent in the first quarter of 2005. Over the same period, the dollar volume of all-cash deals has risen to 56 percent from 33 percent.
Besides the laundered money. It may be that there are a lot of cash rich people, family credit in the absence of banks not lending and/or charging product fee,computer models rejecting good borrowers etc.
As we all know that an ordinary consumers are not the serial money launderers. The once’s who are a conduit to money laundering of the cartels are the Banks as the recent case had once again highlighted, involving a well established international Bank with high street presence in the UK, USA and the far East..