Foreign Buyers Snap Up U.S. Real Estate, II
Submitted by CARPE DIEM
NPR Morning Edition–In 2007, foreign investors acquired more than $43 billion worth of U.S. properties — almost double the amount foreigners spent a year earlier.
Three reasons:
1. Weak dollar makes U.S. real estate more affordable.
2. Increased global wealth means international investors have more investment capital.
3. Falling U.S. real estate prices offer bargains for foreigners.
Bottom Line: A market correction is taking place in the U.S. real estate market thanks to foreign investors, another benefit of globalization. Lou Dobbs, listen up.
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