Foreign purchases of U.S. residential real estate recently rose to a record level in terms of dollar volume and number of homes sold.
According to the National Association of Realtors, between April 2016 and March 2017, foreign purchasers closed on $153 billion worth of U.S. residential properties. That number was up 49 percent from the same period in 2016, surpassing the previous high in 2015.
CNBC reported that “[f]oreign sales accounted for 10 percent of all existing home sales by dollar volume and 5 percent by number of properties. In total, foreign buyers purchased 284,455 homes, up 32 percent from the previous year.”
Sales in the states of Florida, California, and Texas accounted for half of all foreign purchases.
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7 comments:
Just try and purchase any property in another country if you are not a citizen. Only in greedy America, is this possible.
We have got to stop foreigners from buy up everything in our country. That is FRAUD and CRIMINAL! Not to mention greed on the sellers part. You should not be able to buy real estate in this country unless you are an American.
4:32 that is one of the most ridiculous things I've ever heard. My neighbors are from India and they're more friendly than any of you!
Yeah, those pesky "Yorkers and Jerseyites" swooped in over the years here in Ocean City...they are everywhere nowadays....the madness!!!
(snicker snicker)
Foreigners come here and get a clean slate.Americans struggle and have to rent until they can buy a home.Also they get breaks on taxes and special programs we aren't allowed to take advantage of.
Just go to any local small foreign owned business. They use one register to ring up a few sales but the other register is used for their off the books sales. The off the books sales are not reported and sales tax you pay is pocketed and is not reported to the state. This is why they are so successful and profitable.
Maryland just looks the other way.
Right. Buy businesses & manipulate the system doing so while legal Americans struggle, go through hurdles & scrape to build businesses. Sickening & steady making anchor babies.
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