USA being SOLD to FOREIGNERS

[Wild Style]

Originally Posted by KevK

The foreigners are MOVIN IN to USA homes:
http://news.yahoo.com/s/ap/20071224/ap_on_bi_ge/real_estate_foreign_buyers (broken link)

While AMERICANS are moving into TENTS:
http://news.yahoo.com/s/nm/20071221/us_nm/usa_housing_social_dc (broken link)

BUT the REPUBLICANS are here to HELP:
http://www.nytimes.com/2007/12/19/us...1Q&oref=slogin

Don't you just LOVE the REPUBLICANS??

Welcome to America, this is nothing new. The Japanese bought up tons of things in America back in the 80s. They then realized things were getting bad and sold a lot of their holdings with in the last year or so. All these Europeans they claim are buying up everything is a fantasy. You look at NYC for example, they said the number of Europeans buying NEW condos was up by a 1/3 but given the fact NEW and EXISTING homes are NOT selling (there is a clear increase in inventory in the city) we see this is just wishful thinking on the part of real estate association and other business peoples. What is happening in abundance though is Europeans are coming here, buying up our cheap goods and going home. Mark my words, there will be no huge European invasion, we are going to see bad times and no amount of wishful thinking is going to change that. A lot of people seem oblivious to the fact that Europe is behind us in this financial mess, they are about to see their ARMs reset next year. It was only a few months back that there was a run on one of the banks over there (in the UK) and the French banking system almost came grinding to a hault. So don't believe the hype. People need to really start researching this stuff, not just from yahoo news either, read from economic and financial based websites. One good one is the economist.

On another note, a lot of these people are also buying these places for business investment (for rentals) 3 guesses what effect this is going to have on rental industry. We are in such a absolute mess it isn't even funny.

[hiknapster]

Originally Posted by lchoro

This looks like good news. Real estate prices should go way up from here.

Foreigners buy up US real estate

http://www.csmonitor.com/2005/0715/p01s03-ussc.html

Um...That article is from July 15, 2005!

[lchoro]

Yes, I know. Buying of real estate by outsiders, whether they be foreigners or out-of-staters, is not necessarily a sign that real estate will come back. It may be indicative of markets that still have significant amount of froth, such as Florida in 2005 and NYC in 2007.

[Wild Style]

Ichoro

I assure you there will not be enough foreigners buying homes in NYC in 2007 to save that market. It seems NYC is about a year behind the trend (the housing bubble bust). NYC in 2008 will have to eat crow, and its about time.