U.S. real estate is even expensive for wealthy foreign homebuyers

– The U.S. housing market is becoming increasingly unaffordable, with rising home prices and elevated mortgage rates. –

– Foreign buyers purchased 36% fewer properties between April 2023 and March 2024, the fewest since 2009. –

– Foreign investment in U.S. homes dropped to $42 billion, a 21% decrease from the previous year. –

– The strong U.S. dollar makes homes more expensive for foreigners, leading to decreased sales. –

– High home prices, mortgage rates, and limited inventory are major disincentives for foreign buyers. –

– Geopolitical tensions, global economic shifts, and tighter U.S. immigration policies also contribute to reduced foreign investment. –

– The decline in foreign investment could lower competition and demand for luxury properties, potentially reducing home prices. – –

– Despite the decline, Florida, Texas, California, Arizona, and Georgia remain popular among foreign buyers. – –

– Foreign buyers come from Canada, China, Mexico, India, and Colombia, with varying profiles and motivations. –

The upcoming U.S. election may cause foreign buyers to adopt a wait-and-see approach due to potential policy changes.

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