Monday, December 3, 2007
Great Time for Europeans Buying in the US
This is a wonderful opportunity for Europeans to use the strength of the Euro to buy real estate assets in the US. Many destination cities such as New York, San Francisco, Los Angeles, Chicago, Miami and even Las Vegas are seeing a strong influx of European buyers. If the Dollar is historically low, then when it adjusts back to a normal trading range, these US homes will make very good exchange rate returns. The homes don't even have to go up in value for Europeans to win in this situation. Of course, real estate values will rise over the next few years as we get out of the sub-prime mortgage situation - a key reason why our dollar is so weak now. That double whammy (a true real estate term) will make huge returns for foreign investors. Any Germans, Dutch or Brits reading this?