Skip to comments.Modern Land Grab: Foreigners U.S. Real Estate Buys
Posted on 07/28/2011 9:17:51 PM PDT by DeaconBenjamin
Why should I care?
Been going on for decades. No one seems to care. No candidate has ever bothered to notice, and frankly the people pick other battles, like naming post offices. They don’t care either. I think we know we’re done and missed the bus actually.
The main reason you should care is that it is a symptom of the dollar being devalued. US real estate has gotten a lot cheaper in the last couple years. The hosing bubble pop compounded with the weak dollar. In the old days, many americans retired abroad because their savings went further in less expensive countries. Now we are the cheap country...
Interesting graphs. Thanks fer postin’.
True and I agree. The headline should be “Federal Policies impoverish Americans”.
The house next to me is for sale.
I wish two red hot Russian lesbians would buy it. I wish they would look like the chicks in that TV commercial with the billionaire and the mini Giraffe.
My grandpa used to say you can wish in one hand and sh!t in the other and see which one fills up faster.
So? They can’t take it with them.
Tell ‘em to come and get it. Buy, buy, buy! The market needs buyers to raise home prices, dry up the inventory of new and barely lived in homes to create a market for brand new homes so we can start building again.
That does not explain why we should care. You've only explained the what. Why should I care?
The headline should read, "Americans Get What They Vote For."
Because they know it’s a good deal and it isn’t going anywhere.
Remember this happening with Japanese buying in the 80’s and 90’s ... Funny, they couldn’t take it with them.
Let them buy. It helps the market. Let them put money into our economy. It builds us up.
It is a wealth transfer from you to foreigners. Your savings are worth less, and theirs is worth more. It is a massive wealth redistribution.
That’s how the U.S. pays for what it imports, selling corn and condos to foreigners.
And also, I'm going to take a guess that the foreigners have actually lost money (just like the Japanese lost money on all the firms they bought in the 80s).
yet, that comes in cycles — as more people pump in money into the US, the dollar should go up again, right? Of course this hinges on whether we manage to balance our debt.
Corn, condos and paper IOUs. In the case of the latter two, they’re going down in value. I’m pretty sure many of the foreigners have lost money — but then I haven’t studied this and am not an economist in any case
As long as Obama is in office, AND if he is reelected, they are going to get BURNED! (Course, they may have a 10 year, 20 year strategy based on the Republic cleaning out this crap, in which case there WILL be an economic recovery)....so, remains to be seen I guess.
Nor am I. Foreign exchange rates, tax rates at home, etc. surely play into foreigners decisions to invest in U.S. real estate. Sometimes those things can make a bad deal here look good from over the border.
If Obambi is re-elected, then the US will be the economic equivalent of the Congo by 2020.
Oh sheesh.Don’t overrate him. Zimbabwe at the least. We will be carrying around suitcases of $20 bills just to buy a coca cola down a the local 7Eleven (fully weaponed up in one’s vehicle and CCR if allowed in one’s state).
This happened before with the Japanese.
They cannot toss real estate into the trunk of their cars and send it home.
“Yet those lands are still American, they can’t become Japanese etc.” <<<
Hi, Cronos! You were up late! Of course you make the take away point....again. :)
Just ask the Japanese investors that lost big time on their investment in California real estate, to include Pebble Beach.
Actions have consequences. The massive redistribution of wealth is by our own hand. We as a nation are responsible for putting ourselves in a position of having to do a real estate fire sale.
I guess we could see if they are more interested in paper money than something like a building or a house. How about if we increase the interest we pay on T-Bills? Do you consider that a better option?
I don't blame the foreigners for coming in and buying up the place. They were smart with their money (conservative) and now they will profit for it. On the other hand, we spent like drunken sailors and are broke.
In the mean time, the value of my house goes up and so does everyone elses with the new money coming into the market. Bring 'em on!
I totally agree, and don’t blame foreigners. The problem is the policies that weaken the dollar. As you say, that is at our own feet. The main thing we can do, and it is timely, is stop printing so much money (i.e. stop growing the debt). At this point, it is the primary culprit in debasing the dollar.
I learn a lot from you guys. thank you
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