posted 05-16-2005 15:44               

The foreigners are buying real estate in the US, just like they bought up Hawaii and New York several years ago. But back then, it was generally the Japanese nationals that bought up US real estate because their own currencies were revalued higher relative to the falling dollar.

This time around, the US dollar dropped like a rock AGAINST all the currencies, with the exception of China and a few of the smaller countries like Taiwan and those that tied their currency against the US dollar.

Now, the overseas buyers have had a field day buying cheaper and cheaper priced US real estate because of their higher priced native currencies. When the Chinese revalue their currency they will be massive buyers of US real estate because they will see the buying power of their currency jump like a rocket out of hell. The US real estate market will continue to go up, as nuts as it appears. The potential buying power of the Chinese investors will make the buying power of the Europeans pale by comparison because there is so much artificially restrained power revaluation of the Chinese currency. Right after the re-valuation the buying power might drop as the much anticipated revaluation would have by then be discounted, but afterwards the Chinese currency will flood the US real estate market buying real estate that has been "discounted" by the revaluation.

We have some interesting times ahead that will literally knock the socks off the real estate bears in the US.

The buying of US real estate by foreigners have alwasy been concentrated in urban areas, however. Back in the 1970's there was some tepid buying of farm land by foreign investors but we haven't seen much of that within the last twenty years.

posted 05-19-2005 10:10               

I am using them for 2 transfers right now. What a nightmare!! I will never use them again...I have been leaving emails and voicemails for almost 2 weeks without a response!! Amazing! Maz