When I say foreigners, I mean people who don't live in the USA. People who are permanent residents or have valid green cards are not foreigners for the sake of this discussion.
The housing crisis is a big deal and part of what is driving costs so high is the influence of foreign buyers. People from Asia and other parts of the world are looking for a place to park their money and see the US housing market as a great investment. For example, I read an article recently that claimed as much as 25% of the homes in California are bought by foreign investors.
Do you think foreign buyers are pushing normal Americans and residents out of the market? Do you think a banning foreign would have a significant affect on home prices?
The housing crisis is a big deal and part of what is driving costs so high is the influence of foreign buyers. People from Asia and other parts of the world are looking for a place to park their money and see the US housing market as a great investment. For example, I read an article recently that claimed as much as 25% of the homes in California are bought by foreign investors.
Do you think foreign buyers are pushing normal Americans and residents out of the market? Do you think a banning foreign would have a significant affect on home prices?