“I am shocked at how many foreign buyers seem to want to own USA real estate.”
I see where you’re coming from but there’s one problem.
Foreign buyers aren’t snapping up McMansions in Florida to such an extent as to stop the bubble from collapsing. And Florida has some enormous advantages over San Diego for a prospective foreign vacation property buyer:
– About two times cheaper (median SFR in 300’s in Miami, low 200’s in Tampa)
– WARM OCEAN (low 70’s in December!)
– Direct 8-9 hour flights connecting Miami with London and Paris
Once we hear about rich Brits reversing the decline in Miami, I’ll start worrying about San Diego.
