Not new, just go to Hawaii and see how much of Honolulu’s real estate was bought by Japanese investors. Who wouldn’t want to live in Hawaii?? lol Market Watch covers the last 12 months of real estate purchases (Nationally) and says 41 billion dollars were spent on real estate by foreign investors. I like Market Watch, so crediting them first. However, you can go to my trade’s real estate site, Realtor.org and read the study Market Watch is quoting.
13% of the foreign investors bought in the Midwest….a large portion of the purchases were for single family homes, and the purchases were made in 39 of our 50 states.
I had a handful of people contact me on line; two were from Canada, one from New Zealand, for example. They had trouble (as in could not get) getting financing. Apparently 4% were able to have everything come together. I have no stats to back this up, but I bet a lot of these successful purchases were handled as cash deals.
Interesting? Peace Out – 3C
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