Sunday, September 25, 2011

Canadians, Other Foreigners Buying Up Florida

Foreigners spent $12.7B on Florida residential real estate in 2010
Canadians make up 39 percent of the international pool of buyers that spent $12.7 billion on residential real estate in Florida in 2010, according to a new report.
For 23 percent of the foreign buyers, Florida real estate is perceived as a “profitable investment,” given the deeply discounted prices, rising rents in coastal markets such as in South Florida, and the weakness of the U.S. dollar, according to the NAR report.
It's not deeply discounted. No historical chart indicates that. Amazing how twisted the view of real estate continues to be.

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