While Americans Sleep, Foreigners Buy Their Real Estate Cheap
The "dollars" that we allow to roll off our government press (and be exchanged for other worthless notes abroad) are returning to rob US of our land!
"If the American People ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around (the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered . . ."
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Does your new next-door neighbor have an Irish accent? Maybe an Italian one? Or how about Canadian?Don't be so surprised.
As the value of the dollar plummets, American real estate looks more and more attractive to overseas investors.
The Weak Dollar? Some Don't Worry
Foreigners buying property -- both residential and commercial -- in the United States is nothing new. But in recent months, as the exchange rate has swung further in their favor, Irish, British, Italian and even Canadian investors have started to gobble up more land here.
"This has been a record year for acquisitions by offshore investors," said Dan Fasulo, managing director of Real Capital Analytics, which tracks such transactions.
Through the first three-fourths of the year, there has been $31 billion in commercial real estate purchases by foreigners here, according to Fasulo. Compare that to $23 billion in all of 2006. And Fasulo added: the fourth quarter is usually the most active.
Americans have seen foreigners snag key properties in the past.
Probably the best example of this came in 1989 when 80 percent of the Rockefeller Center, one of New York's top landmarks, was sold by the Rockefeller family to Japan's Mitsubishi Estate Company.
But it wasn't just landmarks being bought by Japanese investors. Thanks to a strong yen many Japanese bought up residential real estate developments in places like California.
Today the money is coming mostly from Europe and probably not the countries you would expect.
Why Is the Dollar Losing Value?
Fasulo said that in the past, we have seen investment from Germany, Australia, Japan and the United Kingdom. But lately investors from other countries have joined them, including Ireland, Spain, Italy, Hong Kong and very recently Canada.
There are also plenty of buyers from the Middle East -- think Dubai [DON'T FORGET ISRAEL! - qrs] -- but that buying spree is driven not so much by a decline in the dollar but by rising oil prices.
"Investors all over the world are just flush with cash that needs to be placed somewhere," Fasulo said. "U.S. real estate, to offshore investors, is considered a very safe and attractive investment."
Wakeup, people!
All the gains of the American Revolution are being reversed before our eyes!!!
This is NEO-COLONIALISM - only there's nothing new about it.
The people are fast sleep, as hucksters and swindlers are neck deep - in the biggest land grab in history.
How can US real estate investments be "safe" when the US is not economically, politically and in terms of legal protection, including protection of private property?
It is like investing in German real estate shortly before WWII.
For the free world the US has become a liability, not an asset.
It's true that US goes through an economical instability this may be an opportunity for foreign business men for taking advantages but we also have look at the bright sides and create a proper business environment. Real estate industry is a major business segment and it's also at the bottom of our economical issues, I think it's time make some macro economical changes so that Americans have their share of advantages. Real estate in Long Grove