Foreigners Make Run on US Housing Market

[Shadow]

Falling home prices may be plaguing the US economy, but they are candy to foreign investors, who already have a weak dollar on their side.

Buyers from overseas spent roughly $41 billion on US residential real estate last year, a bump up from the previous year. US real estate agents report a surge this Spring especially, as foreign buyers see continued pressure on home prices and ample bargains.

"I don’t think they’re so concerned about the prices dropping as they are about getting value for their money," says Rick Ambrose, a Coldwell Banker agent in Lake Mohawk, NJ.

Ambrose and his colleague Mary Pat Spekhardt recently hosted two groups of Japanese investors searching for homes on the scenic lake just about an hour outside of New York City.

"They can work here, be close to the city, be close to their corporations and still feel like they’re on vacation. I think that’s really what grabbed everybody. That’s what got them," says Spekhardt.

http://www.cnbc.com/id/43410052

[PostmodernProphet]

that's actually good news......I would rather have foreign investors buying foreclosed houses than buying fake treasury notes......

[Gunny]

that's actually good news......I would rather have foreign investors buying foreclosed houses than buying fake treasury notes......

Of course you would.

I'd rather have a solid domestic policy and non-spoonfed-lefties buying beyond their means because they know Big Brother will bail them out with a promisory note from China.

What always gets lost here is it was Bill CLinton that made this housing debacle happen by signing acts that allowed insolvent people to buy crap they couldn't afford. The fact it exploded on Bush's watch is all lefties can see. They don't want to look deep enough to figure out their own socialist bullshit is the root evil here.

That wouldn't suit the propaganda, now, would it?

[PostmodernProphet]

Of course you would.

I'd rather have a solid domestic policy and non-spoonfed-lefties buying beyond their means because they know Big Brother will bail them out with a promisory note from China.

What always gets lost here is it was Bill CLinton that made this housing debacle happen by signing acts that allowed insolvent people to buy crap they couldn't afford. The fact it exploded on Bush's watch is all lefties can see. They don't want to look deep enough to figure out their own socialist bullshit is the root evil here.

That wouldn't suit the propaganda, now, would it?

of course liberals got us into it.....what does that have to do with how we get out of it......

we have around 50 million properties in the foreclosure pool.....would you rather they sat around vacant or that some foreign investor bought them up, maintained them and paid property taxes on them......