rich foreigners buy u.s. homes

[Bob]

Rich Foreigners Buy U.S. Homes: Unreal Estate | Top 1% | Financial Articles & Investing News | TheStreet.com MIAMI (TheStreet) -- The nation's real estate market is starting to show a pulse again, and international buyers have been partly responsible for its improving health.


Price reductions in the U.S. have made its real estate offerings more attractive to foreign buyers who see an entry point into purchases they have long coveted. On a routine basis, tour groups from China are visiting New York, Boston and San Francisco to scope out potential buys. Investors from Spain and Italy have emerged among their European peers. Latin American countries are taking advantage of bottomed-out prices in Miami.

Rodrigo Nino, president of the global real estate firm Prodigy International, is among those betting on the trend to continue and grow. He recently launched Prodigy Network to purchase residential condominiums for international investors. The company will initially buy approximately $100 million worth of new condominiums on behalf of investors located in Latin America, Europe and Asia.

 

[kkddbb]

and? this has been going on since our founding. let me guess, its bush's fault

 

[Bob]

and? this has been going on since our founding. let me guess, its bush's fault

back to the political forum angry boy

 

[Paula]

I want more Italians in SoWal. Really.

 

[Lynnie]

Remember in the 80's when the Japanese were going to 'own America?' They were investing in our real estate then.

Since lending guideline have changed, Foreigners or Foreign Nationals are also paying cash for real estate here - I have no problem with that at all.

 

[Smiling JOe]

We may be more likely to get Chinese. They seem to be buying most of America through buying American stocks.

 

[Lynnie]

We may be more likely to get Chinese. They seem to be buying most of America through buying American stocks.

Yep - if they can sustain, too.

 

[Smiling JOe]

They can sustain, because as long as our economy is in the crapper, Americans will continue to buy mostly cheap crap made in China.

 

[Suma]

So how do I sell my SoWal property to the Chinese??? Anybody got any marketing ideas?

 

[Smiling JOe]

Package it together with a many other millions and find a Chinese intermediary who can package the money from investors for a fee.