Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Modern Land Grab: Foreigners U.S. Real Estate Buys
The Big Picture ^ | July 28, 2011 | Barry Ritholtz

Posted on 07/28/2011 9:17:51 PM PDT by DeaconBenjamin



TOPICS: Business/Economy; Foreign Affairs; News/Current Events
KEYWORDS: foreigners; foreignersbuyus; landgrab; uslandgrab; usproperty

1 posted on 07/28/2011 9:17:56 PM PDT by DeaconBenjamin
[ Post Reply | Private Reply | View Replies]

To: DeaconBenjamin

Why should I care?


2 posted on 07/28/2011 9:24:44 PM PDT by DManA
[ Post Reply | Private Reply | To 1 | View Replies]

To: DeaconBenjamin

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.


3 posted on 07/28/2011 9:36:03 PM PDT by RitaOK (We hang together or will hang separately. 2012, or bust)
[ Post Reply | Private Reply | To 1 | View Replies]

To: DManA; RitaOK

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...


4 posted on 07/28/2011 9:46:56 PM PDT by MrShoop
[ Post Reply | Private Reply | To 2 | View Replies]

To: DeaconBenjamin

Interesting graphs. Thanks fer postin’.


5 posted on 07/28/2011 9:47:34 PM PDT by Oratam
[ Post Reply | Private Reply | To 1 | View Replies]

To: MrShoop

True and I agree. The headline should be “Federal Policies impoverish Americans”.


6 posted on 07/28/2011 9:51:22 PM PDT by DManA
[ Post Reply | Private Reply | To 4 | View Replies]

To: DManA

exactly!


7 posted on 07/28/2011 9:57:54 PM PDT by MrShoop
[ Post Reply | Private Reply | To 6 | View Replies]

To: DeaconBenjamin

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.


8 posted on 07/28/2011 9:59:22 PM PDT by NeverForgetBataan (To the German Commander: ..........................NUTS !)
[ Post Reply | Private Reply | To 1 | View Replies]

To: DeaconBenjamin

So? They can’t take it with them.


9 posted on 07/28/2011 10:13:41 PM PDT by Guyin4Os (A messianic ger-tsedek)
[ Post Reply | Private Reply | To 1 | View Replies]

To: DeaconBenjamin

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.


10 posted on 07/28/2011 10:16:31 PM PDT by gunsequalfreedom (Conservative is not a label of convenience. It is a guide to your actions.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: MrShoop
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...

That does not explain why we should care. You've only explained the what. Why should I care?

11 posted on 07/28/2011 10:18:17 PM PDT by gunsequalfreedom (Conservative is not a label of convenience. It is a guide to your actions.)
[ Post Reply | Private Reply | To 4 | View Replies]

To: DManA
True and I agree. The headline should be “Federal Policies impoverish Americans”.

The headline should read, "Americans Get What They Vote For."

12 posted on 07/28/2011 10:19:22 PM PDT by gunsequalfreedom (Conservative is not a label of convenience. It is a guide to your actions.)
[ Post Reply | Private Reply | To 6 | View Replies]

To: DeaconBenjamin

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.


13 posted on 07/28/2011 10:21:59 PM PDT by antceecee (Bless us Father.. have mercy on us and protect us from evil.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: gunsequalfreedom

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.


14 posted on 07/28/2011 10:54:40 PM PDT by MrShoop
[ Post Reply | Private Reply | To 11 | View Replies]

To: DeaconBenjamin

That’s how the U.S. pays for what it imports, selling corn and condos to foreigners.


15 posted on 07/29/2011 12:09:30 AM PDT by count-your-change (You don't have be brilliant, not being stupid is enough.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: RitaOK; DeaconBenjamin; DManA
I'm a bit torn on this -- on the one hand, foreigners buying up property (even 7%) means that land is being owned by non-Americans. Yet those lands are still American, they can't become Japanese etc.

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).

16 posted on 07/29/2011 12:40:34 AM PDT by Cronos ( W Szczebrzeszynie chrzaszcz brzmi w trzcinie I Szczebrzeszyn z tego slynie.)
[ Post Reply | Private Reply | To 3 | View Replies]

To: MrShoop

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.


17 posted on 07/29/2011 12:41:43 AM PDT by Cronos ( W Szczebrzeszynie chrzaszcz brzmi w trzcinie I Szczebrzeszyn z tego slynie.)
[ Post Reply | Private Reply | To 4 | View Replies]

To: count-your-change

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


18 posted on 07/29/2011 12:42:57 AM PDT by Cronos ( W Szczebrzeszynie chrzaszcz brzmi w trzcinie I Szczebrzeszyn z tego slynie.)
[ Post Reply | Private Reply | To 15 | View Replies]

To: Cronos

Hopefully!


19 posted on 07/29/2011 1:40:48 AM PDT by MrShoop
[ Post Reply | Private Reply | To 17 | View Replies]

To: DManA

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.


20 posted on 07/29/2011 1:48:36 AM PDT by AmericanInTokyo (Herman Cain should increase security as Islamists would "fatwah" him for telling the truth on them.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Cronos

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.


21 posted on 07/29/2011 2:17:36 AM PDT by count-your-change (You don't have be brilliant, not being stupid is enough.)
[ Post Reply | Private Reply | To 18 | View Replies]

To: AmericanInTokyo

If Obambi is re-elected, then the US will be the economic equivalent of the Congo by 2020.


22 posted on 07/29/2011 2:54:19 AM PDT by Cronos ( W Szczebrzeszynie chrzaszcz brzmi w trzcinie I Szczebrzeszyn z tego slynie.)
[ Post Reply | Private Reply | To 20 | View Replies]

To: Cronos

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).


23 posted on 07/29/2011 3:11:49 AM PDT by AmericanInTokyo (Herman Cain should increase security as Islamists would "fatwah" him for telling the truth on them.)
[ Post Reply | Private Reply | To 22 | View Replies]

To: MrShoop
If we are now the cheap country, the result will be money coming here. The huge real estate overhang will be absorbed, and local business will pick up.

This happened before with the Japanese.

They cannot toss real estate into the trunk of their cars and send it home.

24 posted on 07/29/2011 3:43:04 AM PDT by Jimmy Valentine (DemocRATS - when they speak, they lie; when they are silent, they are stealing the American Dream)
[ Post Reply | Private Reply | To 4 | View Replies]

To: Cronos

“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. :)


25 posted on 07/29/2011 9:40:47 AM PDT by RitaOK (We hang together or will hang separately. 2012, or bust)
[ Post Reply | Private Reply | To 16 | View Replies]

To: MrShoop
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.

Just ask the Japanese investors that lost big time on their investment in California real estate, to include Pebble Beach.

26 posted on 07/29/2011 9:46:06 AM PDT by Night Hides Not (My dream ticket for 2012 is John Galt & Dagny Taggart!)
[ Post Reply | Private Reply | To 14 | View Replies]

To: MrShoop
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.

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!

27 posted on 07/29/2011 10:35:30 AM PDT by gunsequalfreedom (Conservative is not a label of convenience. It is a guide to your actions.)
[ Post Reply | Private Reply | To 14 | View Replies]

To: gunsequalfreedom

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.


28 posted on 07/29/2011 10:47:02 AM PDT by MrShoop
[ Post Reply | Private Reply | To 27 | View Replies]

To: RitaOK

I learn a lot from you guys. thank you


29 posted on 07/30/2011 2:52:29 AM PDT by Cronos ( W Szczebrzeszynie chrzaszcz brzmi w trzcinie I Szczebrzeszyn z tego slynie.)
[ Post Reply | Private Reply | To 25 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson