Investor interest drops in formerly hot markets - from Yahoo! Finance

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2013 Aug 17, 2:45pm   2,123 views  3 comments

by mbSFBay   ➕follow (0)   💰tip   ignore  


By Julie Haviv NEW YORK (Reuters) - Foreign investors, who rapaciously scooped up U.S. real estate during the 2007-2009 recession, are backing away from the same markets they so eagerly jumped into a few years ago. Real estate brokers say demand from international investors has flagged in locations that have been most attractive to overseas buyers - markets such as San Francisco, Phoenix, Las Vegas and Miami. Many of those markets are back on solid footing after stumbling during the housing crisis. Property prices have risen, while the dollar - against the Indian rupee in particular, and to a lesser...


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1   JH   2013 Aug 17, 4:31pm  

Good riddance...please let this precipitate the next bursting of a bubble (says the prospective buyer).
I don't understand why so many investors have been overpaying over the past 2 years. I thought investors paid cash well under market value. If they couldn't they said "fuck it some sucker will overpay for this shit hole and I'll keep looking.

2   MershedPerturders   2013 Aug 17, 4:50pm  

suddenly higher prices are scary?

because interest rates are going up, mortgages cut off, and the fake market will die. Welcome back to reality california.

3   mbSFBay   2013 Aug 19, 12:25am  

I hope you are right. Asset prices have gotten way out of whack with reality.

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