[ad_1]
The US housing market has experienced its biggest slowdown in history, and it has calmed many Americans seeking their own Wall Street Journal. Houses bought by foreigners amounted to $ 121 billion during the fiscal year to the end of March, down from $ 153 billion the year before, shows dop Le Decline of foreign interest helps wealthy shoppers in places like Manhattan, Seattle, San Francisco, Miami and Orange County, California. Although foreigners have a small share of the US housing market, they are close to the luxury segment and are more likely to pay in cash and a little more than the price of the offer, report realtors. This made it more difficult for local buyers who had to make a larger down payment and pay more.
The sharp decline in foreign-owned properties was due to higher house prices, a stronger dollar, and higher prices. Deepening of political tensions between the United States and other parts of the world, economists note He says his clients have followed the rapid price growth in recent years, but he thinks they can make a profit now. During a trip to China last week, Chang realized that the coverage of US news in the country is repelling future redemptions "It's amazing," he says about the cover Negative, including editorial articles that say it's not a good time to invest in the United States. There is also no article tracking real estate projects financed by Chinese investors who went bankrupt The Chinese remain the largest overseas homebuyers in the United States, but the properties they purchased fell 4% over the previous year to reach $ 30.4 billion. of dollars. Homes built in Canada, ranked second among Chinese, fell by 45% to $ 10.5 billion. Existing home sales have declined from year to year over the past five of the last six months due to rising prices, limited inventory and rising mortgage rates. The decline in goods bought by foreigners aggravates the problems of the market. Foreigners continued to buy more expensive properties than most local residents last year, but they reduced their usual costs. The average cost of a residential property purchased by a stranger was $ 292,400, down from $ 302,300 the previous year. The average price that local residents are willing to pay for an existing home is about $ 50,000 less. Chinese buyers continued to buy the most expensive properties at an average price of $ 439,100 Nearly 40% of Chinese buyers have acquired a property in California where there is a large Asian good education community. But recently, Chinese buyers can not export money from their homeland and are also worried about rising tensions with the United States, say brokers. Carey Lin, a broker at Douglas Elliman in New York, says that more than half of his work has been linked to Chinese buyers but has not traveled to China for six months. She has also started looking for local buyers and helping Chinese customers sell their already purchased homes. Lynn says the main obstacle is that the Chinese government has increased the constraints and has already facilitated the export of 50,000 residents. dollars from the country. Banks must also indicate for what purposes the money is used. Learning is an acceptable reason, but the purchase of a property is not usually the case. Canadian buyers, who primarily buy vacation homes and homes to spend their old age in Florida and Arizona, have increased their purchases in recent years. have retired. Brent Leewood, a Florida broker, says Canadian professional investors are taking a wait-and-see approach, and baby boomers. before retirement age, simply restrict their purchases of property.
The political uncertainty "destroys the ability of investors" to make long-term investment decisions with confidence, and we see that this uncertainty (f, b, e, v, n, t , s) {if (f.fbq) returns, n = f.fbq = function () {n .callMethod? Tags China Housing Investorbg market pressure suffering trade Related Articles |
