Chinese investors are arranging homebuying tours to buy U.S. Real Estate. Tour groups are traveling from China to the United States to view and purchase low priced real estate in desirable U.S. Cities, like New York, Los Angeles and the San Francisco Bay Area. This is another example of how what Americans see as an economic downturn, others see as an investment opportunity.
Please watch closely, this may be a sign that the bottom is near. Keep in mind that just because we hit "bottom" doesn't mean we won't "drag along the bottom" for a period of time, before a true recovery happens.
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Robin keep your opinions coming, they are very astute. Its unfortunate but Phoenix really isn't on the international radar screen for foreign investors as I am sure you well know. But the silver lining is that every purchase has a ripple effect and good news is good news.
ReplyDeleteMark Tait