Les Christie is a famous CNN real estate writer whose articles I have been following for a few years. Two days ago, I had the opportunity to speak to him about Manhattan real estate. The article came out today, below for your convenience. Click the title to go directly to the CNN source website.
Foreign buyers scooping up U.S. homes
International purchases of American homes are ramping up, and a new Senate bill designed to boost the ailing real-estate market would encourage globe-trotting investors to buy even more.
The bill, co-sponsored by Charles Schumer (D-N.Y.) and Mike Lee (R.-Utah) would grant a U.S. visa to international investors who agree to spend at least $500,000 on residential real estate here.
Now, said Miller, the New York market now attracts more Asian and Latin American buyers than in the past.