Rich foregins buying up Miami properties like it Black Friday (leasing, neighborhood)

[BPt111]

Originally Posted by ruski

Someone is foraging for properties?

They investing in Miami

[Crashj007]

Originally Posted by BPt111

Sorry for my grammar English teacher

Not a big deal. Most people here type in haste and I've never mastered touch typing, so I'm pretty tolerant.
But still, you should try to get the title of your new thread to be spelled correctly and make sense, eh?

[Astral_Weeks]

In Jan. 2017, Vancouver imposed a 15% tax on the sales of homes purchased by foreign buyers.

Foreign buyers still investing in Metro Vancouver real estate | Vancouver Sun

[Bobdreamz]

Originally Posted by BPt111

Foregins are buying up Miami soaring city prices to go up sky high city also see trends rich European buying properties and investing in city

Rich Brazilians are moving to Miami, Florida | Immigration to Brazil

and you care because....?????

[bale002]

Pecunia non olet.

Who cares about the provenance of the money? Property owners pay taxes and spend elsewhere in the local economy. So as long as they follow the rules here ...

Do you really think US investors, and their political hacks in government, care about solving problems in countries like Venezuela? Far from it.


From what I've been told on the street, intelligent Brazilians understand the ups and downs of their country's politico-economic cycles, so they invest abroad when times are good as a hedge against when times are bad, such as has been the case over the past 10-15 years; right now they have been in a noticeable down cycle for about three years and the swiftest had already hedged their bets before that, with the laggards coming in recently.

Chinese investors are probably thinking the same; right now China's two-decade economic growth spurt has already passed its peak and they have already begun to buy up real estate abroad, including Miami, as a hedge against bad times (it's all relative), which may be down the pike soon.

All good for Miami's coffers, even though not all of its residents benefit, especially young, low-income locals seeking better housing than their parents.

Sorry.

[ruski]

Originally Posted by Crashj007

Not a big deal. Most people here type in haste and I've never mastered touch typing, so I'm pretty tolerant.
But still, you should try to get the title of your new thread to be spelled correctly and make sense, eh?

But when someone repeatedly misspells "foreigners" in the same exact way...

[WrongStreet]

Originally Posted by bale002

Just to add Chinese and other Asians into the mix over the past two or three years, at least that's what I see.

Also Brazil's economy has been in decline since at least mid/late 2014 when oil prices started to tank, precursor to the current political turmoil.

Yup, totally forgot to mention the influx of Chinese investors in the last couple years. There also appears to be more immigration from China and other Asian countries as well. I actually like that aspect because I remember first moving to Miami and noticing the complete lack of an Asian community, seems to be growing now.


However, a flood of foreign investors from any acountry is not a good thing. It will make our housing market like NYC or San Francisco and push locals further and further out due to lack of affordability.

[cfbs2691]

Originally Posted by WrongStreet

This has been going on for years.

Yawn

[bale002]

Originally Posted by WrongStreet

However, a flood of foreign investors from any country is not a good thing. It will make our housing market like NYC or San Francisco and push locals further and further out due to lack of affordability.

I agree that it makes it very difficult for young, ambitious people from economically modest families with few or no connections in high places.

It seems many of them wind up going to college in Florida cities like Gainesville, Tallahassee and Orlando, and start their careers in cities like Jacksonville, Orlando, Tampa, or in cities in other states like Chicago, New York, etc.

I am not sure what policies could be effectively implemented besides encouraging them to study useful things in the STEM sectors or logistics management, etc., and possibly giving incentives to bigger companies to settle here and offering young people career-boosting internships.

And that is happening, but slowly, certainly slower than the pace at which foreigners with more cash than brains buy up properties here.

Good Luck!

[kmarc]

Bubble, bubble, toil and trouble!