Why should I care?
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...
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.