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i dont think gov is currently trying to discourage foreign investors in RE. in fact if i recall correctly they made it easier for foreign based REITS to invest in US properties recently . but i can't remember the exact details.
In part, "don't ask don't tell about cash/private deals". As long as the money is coming in, ghost properties can sit, hurt the market.
"The U.S. Department of the Treasury*announcedWednesday that title companies handling cash real estate deals in Miami and Manhattan will have to reveal the buyers’ identity if they are spending*more than $3 million.
The new rules will lift the veil of secrecy that covers many cash transactions, which are often made by shell corporations*without revealing the buyers’ names. The regulation will also shed light on how many cash transactions are made by foreign investors."
None of the builders in our immediate area offer loans. You have to find your own lender. So your scenario might be happening elsewhere, but not here. Most that are buying here are 30 something millennials that are "move-up" buyers. Even if there are builders that are still offering loans, they still have to obey the regulations. Lending is much different than back in 2000's.
It's happening all over FL. With national home builders too, not mom and pop contractors... M/I Homes, Mobley Homes, Lennar, CalAtlantic (granted the latter has offered the least in incentives from what I have personally seen, probably because, at least in FL, they have a good reputation for warranty and quality so they don't have to do as much to get homes under contract). We have bought and sold three primary properties since 1996- and the builders offering to do them in 2016/2017 where I live are all working with companies that are originating loans with lax requirements. No lie, we had one tell us outright that they operate on a 'stop light' system of determining who to lend to and 'have pushed through yellow loans whereas two years ago we only saw green loans approved... But we still turn away the red loans." We ran from them, Lol. Regulations work, yes, but make no mistake, in many cases risky loans are once again becoming more common.
Can't and won't speak for other areas, just my own...
Many of the people I see buying homes around here are people in their 50's who already own a home and want to buy another home. They are at the top of their earning potential, good salaries, and can afford the monthly payment.
Might be a vacation home, or a home they want to rent out. They see real estate as a good place to invest. In good times, it is.
1. Buy a second home and pay a small monthly payment.
2. Rent it out and make money each month.
3. Sell it for much more than you bought it for.
4. Profit!
Millennials stop at age 33 because they put that new group for 1977-1984 called Xennials.
I'd like to argue that milennials were 1982/3... As an early '80s baby, I have more in common with late seventies than I do even '82... With a brother in law '84, there is a large enough difference between us. I mean, hey... If Oregon Trail wasn't a weekly occurrence in computer lab, when the early Macs were THE thing to look forward to all week, then you missed out, LOL. I still remember my lab teacher, Mr. Apple, and that my lab time for a couple of years was Fridays. Ha ha ha.
I'm curious to who is driving up the price of housing these days? I'm an Xer who has a lot of Millennial friends, early to mid 30s, and none of them has, or can afford a house? Whose driving up the prices if not Millennials? I see quite a few Foreigners at open houses. Are they buying so many houses that it's driving the prices up?
The emergence of a middle class (and an upper middle class) in China has produced a lot of Chinese with substantial wealth, which many are parking in 'foreign' real estate.
Many of the people I see buying homes around here are people in their 50's who already own a home and want to buy another home. They are at the top of their earning potential, good salaries, and can afford the monthly payment.
Might be a vacation home, or a home they want to rent out. They see real estate as a good place to invest. In good times, it is.
1. Buy a second home and pay a small monthly payment.
2. Rent it out and make money each month.
3. Sell it for much more than you bought it for.
4. Profit!
We have a large group of people with multiple properties, getting wealthy off of another large group of people unable to buy one house.
Every income property is someone else's outgo property.
We have a large group of people with multiple properties, getting wealthy off of another large group of people unable to buy one house.
Every income property is someone else's outgo property.
You should learn from those people. They've managed to turn an investment into real income.
That's the way of the world. Successful people make investments (that come with risk) and benefit from it. Do you have the same pathological envy of other business owners, or is it just landlords? I mean, people with multiple businesses get wealthy off of another large group of people unable to start their own business. Every business is someone else's expense.
Location: Was Midvalley Oregon; Now Eastside Seattle area
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We want to downsize, one car, walk or public transportation.Boomer Retirees who want to get out of suburbia. We are getting too old to manage the house and yard (10 fruit trees, 9 blueberries, 5 raised beds that we only use 3. And then there is the farm.
I know Gen Y was re-titled to millennial but in my mind it's a misnomer. Anyone born from the 80's - early/mid 90's does not match the true millennial generation. People in their late 20's - Mid 30's are buying houses but it's location specific. In High COL areas they cannot afford to buy a house but mid cost to low cost areas they are the demand for housing.
I live in a high COL (NYC suburb) area, me late 20s husband early 30s. We and most of our friends own homes in the $400-700k range. We all work in professional jobs, many with young children. We did not receive any financial help from our parents to purchase a home, have college or wedding paid for, etc.
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And then there is the farm. 
