Foreign Investment In U.S. Real Estate Plunges

  • 📰 Forbes
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 53%

United States News News

United States United States Latest News,United States United States Headlines

The U.S. housing market has hit another stumbling block, as purchases of homes by foreign buyers dropped a dramatic 36%

, according to aThe data comes from an annual survey of residential purchases from international buyers, which found that foreign buyers, led by the Chinese, purchased existing properties with a total value of $77.9 billion from April 2018 through March 2019, compared to properties totaling $121 billion in the preceding 12 months.

There are many reasons for the plunge, including less economic growth abroad — growth slowed to 3.6% in 2018 and is on track to slow to 3.3% in 2019 — tighter controls on outside investment by the Chinese government, a stronger U.S. dollar and a low inventory of homes for sale, according to Lawrence Yun, NAR's chief economist and fellow Forbes.com contributor, who called the magnitude of the decline"quite striking, implying less confidence in owning a property in the U.S.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Good, they can make their countries great again.

That's good news in my opinion. Foreign investors drive the cost of homeownership through the roof. We should be encouraging domestic homeownership not foreign investment in the first place.

Another consequence of tariffs; as imports decrease, it seems that foreign buyers now have fewer US dollars from which to buy US property

So now Americans can start buying? Great

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 394. in US

United States United States Latest News, United States United States Headlines