In NYC, foreign buyers (with no roots in the US) are a tiny % of the market. Most co-ops won’t sell to non-occupiers or rental investors, and 90% of apartments are in co-ops. The publicity about sky-high prices is due to a small % of condos, not the average apartment.
The NYC suburbs (other than very expensive ones) are still full of foreclosures and shorts. Down 20-25% over 2006. Thankfully!
Most people in foreclosure are not victims but rather fools.
