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Foreign Purchases Of US Homes Collapsed 50% In Last Two Years

Summary:
Foreign purchases of U.S. homes have dropped by half over the last two years, a fresh blow to the top end of the market in New York City, Miami and cities in California. Foreigners bought less than billion worth of U.S. residential real estate in the year that ended in March—a 36% decline from 1 billion the previous year, according to a report released Wednesday by the National Association of Realtors. https://www.wsj.com/articles/foreign-buying-of-u-s-homes-suffers-record-drop-11563396472?mod=hp_lead_pos6

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Foreign purchases of U.S. homes have dropped by half over the last two years, a fresh blow to the top end of the market in New York City, Miami and cities in California. Foreigners bought less than $78 billion worth of U.S. residential real estate in the year that ended in March—a 36% decline from $121 billion the previous year, according to a report released Wednesday by the National Association of Realtors.

https://www.wsj.com/articles/foreign-buying-of-u-s-homes-suffers-record-drop-11563396472?mod=hp_lead_pos6

David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

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