From CNN Money, Wall Street Journal to Forbes Magazine they all are reporting the fall in value of the U.S dollar. Interest rates have been slashed in order to boost our struggling economy. The sub-prime fallout from earlier this year is in full effect. When you purchase a home so many entities feed off a sole purchase that churns our economy.
Example, when a homebuyer completes escrow and receive the keys to their new home, they often purchase items from dept stores for their home. Landscaping, cable or satellite, pest control, home insurance you name it are all affected by foreclosure. When you hear about these foreclosures that are taking place through out the U.S. so many people feel the crunch as well. Moreover, lending has been extremely tightened which deepens the problem. We are all connected to one another one way or another.
Bank owned properties are springing up everywhere and with that leads to depreciation of whole communities. On the other hand, if your not getting in on this feeding frenzy then you just might miss a once in lifetime opportunity to buy properties at all time lows. Investor's aboard are taking advantage of our real estate market. Why aren't you?
The old saying is "don't let opportunity pass you by". Foreign investor's are cashing in on the fall of the U.S. dollar.
Dan Greene, a certified mortgage planning specialist and author of TheMortgageReports.com states that inquiries outside the U.S. are 5 to 10 times higher than last year. Markets such as Miami and San Francisco are receiving huge boost in real estate sales from foreign investor's. Chicago and New York and other parts of Florida are areas that are very attractive to foreign investor's. Who's influencing our economy? Is it the U.S. citizen or a wealthy person living some 10 or 12 time zones away? One thing is for sure we are truly living in a global market.
