So I see a gentleman yesterday, who is in the South Florida Real Estate market. He tells me that in 2 years, he has sold property to just 2 American citizens. WOW, unbelievable, so what are the rest of his clientele??? Non American clientele, I think to myself, this can't be so. So the curiosity in me took over and I had to do research myself. Surprise, in the downtown Miami market, 90 percent of all real estate sales are to foreigners (non citizens). I am astonished, the numbers are so high, as, of course, surprise, the Media won't tell us that, we have to do our research to find it out.
"In downtown Miami, 90 percent of sales were international, primarily to investors, according to Integra Realty Resources and the city’s downtown promotion agency". quote from Reuters
http://www.reuters.com/article/2014/...0FX0X920140728
In San Francisco, sales to foreign clients up 35%,
"Based on responses from 3,547 agents, the report said that for the 12 months that ended in March, foreign clients purchased $92.2 billion worth of existing U.S. homes, up 35 percent from the previous 12 months. Foreign purchases represented 7 percent of total dollars spent on existing homes in the latest period. About half of these foreign buyers live outside the United States; the other half are recent immigrants or here on temporary visas".
Overall the Chinese buyers alone have increased to 16% throughout the US since 2007
http://www.bloombergview.com/article...est?cmpid=yhoo
In my community alone, the last 4 buyer have been Canadians.
It is looking more and more like Americans will be renting from "the foreigners" in our own country. Sad but true.
My Bio Page - Florida - Miami/South Florida
Sales in the US/Miami are predominately international buyers
