- This topic has 4 replies, 4 voices, and was last updated 7 years, 5 months ago by poorgradstudent.
December 21, 2015 at 5:52 PM #21821December 21, 2015 at 7:29 PM #792768spdrunParticipant
No effect — I think most foreign buyers are buying to hold, not to flip. Some might sell as a result, some might buy, but the effects will cancel.December 22, 2015 at 6:14 AM #792769The-ShovelerParticipant
I was listening to the radio yesterday and heard they passed or extended a invest 500K in a biz and get a path to citizenship bill, I think that will have a much larger effect.
Comparing the complete package I still think SoCal is in the bargain bin of World RE.December 22, 2015 at 7:26 AM #792771XBoxBoyParticipant
Here’s another weird piece to add to the whole foreign cash question…
According to CoreLogic the percent of homes purchased with all cash is falling. That might be as simple as US investors have been on a spending spree with all the foreclosures. But also it brings into question if the amount of foreign cash coming into the market is actually increasing.
There’s also a chart at the end of this article that shows California all cash purchases at 23% which is one of the lowest percentages in the country. (Looks like Washington DC is the only place lower)
All this hype about cash buyers makes me wonder if cash from foreign buyers hasn’t peaked.December 22, 2015 at 8:43 AM #792772poorgradstudentParticipant
I imagine it will have the greatest impact on Miami.
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