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U.S. Real Estate Deals Snapped Up by Foreign Buyers

By Alec Foege Jul 9th 2010 @ 11:01AM

Filed Under: News, Economy

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Need more evidence that now is a great time to buy a home? International buyers are snatching up U.S. real estate at a rapid clip, according to the National Association of Realtors. For the year ending in March, foreign residents accounted for 7 percent of residential real estate sales in the U.S.

The most buyers are most frequently from Canada, Mexico, the U.K. and China. Favorable exchange rates have further encouraged purchases. Despite the international appeal of New York City and Washington, D.C. the most popular places to buy are Florida, California, Arizona (pictured left) and Texas.

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Tags: arizona real estate, california real estate, florida real estate, foreign investment in US real estate, texas real estate

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Reader Comments (Page 1 of 4)

1. Steve D on Friday, Jul 9th at 03:59:PM said...

I just spoke to a realtor in the S.F Bay Area. She has had several clients that are buying large tracks of homes in the Antioch area with tens of millions in cash! One client had $50m liquid for real estate purchases!

2. Simzee on Saturday, Jul 10th at 03:14:PM said...

No American could "buy" a house that easy. Yes, make it EASY for the foriegner & NOT the American citizen. Way to go America.

3. brian on Saturday, Jul 10th at 04:40:PM said...

Hey Steve,

No problem on the 'way to go Americ". We are getting so used to being screwed by our elected officials we have just become to accept it as second nature. Just so you know Steve, this used to be the Home Of the Brave, and The Land Of the Free. Sadly, fkng peckerheads like G W Bush and B H Obama have a different agenda. I hope the rest of the world will have a great time occupying us and picking up the crumbs of what once was a great Republic whch stood for 225 years of what the rest of the world aspired to be.

4. Leila on Saturday, Jul 10th at 05:57:PM said...

Our government doesn't care about the Constitution anymore. Who gives a crap that a foreign body buying sovereign land is constitutionally illegal.

5. joel on Saturday, Jul 10th at 07:43:PM said...

Antioch ? hum next to the oil refinery or swiming in the bay so polluted by lead from the boat from the navy that used to be moth ball across than the fish are so loaded with lead they no longer swim. But one Man trash is someone else treasure . Asucker born every minute .

6. FOOTIEMAK on Saturday, Jul 10th at 10:19:AM said...

Yes,I believe that it is true. It is also true that the USA lets foreigners buy property on the coastlines and borders. Other countries won't let a foreigner do that. In Mexico one can have the right to lease thru special arrangement with a trust to basically rent and build or buy and existing piece of real estate on the coast. Antigua, Philippines and many other countries have similar laws. Anyway who cares, China owns the USA anyway!

7. Philip on Saturday, Jul 10th at 02:26:PM said...

Why buy in Arizona?
With the WH and the DOJ behind it, those Mexicans traffickers and the pseudo "Mexican" terrorists will grab everything for free - most Arizonians will be long gone!

8. mark on Saturday, Jul 10th at 08:16:PM said...

I wonder if the Native Americans thought we were terrorists?

9. justhorses on Saturday, Jul 10th at 02:43:PM said...

I am so pissed at the folks that would sell their own mother,if the price was right. We don`t have to wait and wonder when the terrorists will show up again,they probably bought the house next door. If the amount of money is large enough it makes anything okay. That goes for our justice system,too.

10. Edgar Longenecker on Saturday, Jul 10th at 02:43:PM said...

Money laundering... what legitimizes the possession of all that money... which is counterfeited from the US mint, to begin with...??? We should have trade dollars and domestic dollars...

11. InsideQuestions on Saturday, Jul 10th at 02:57:PM said...

As in allowing millions of illegals to come in here and use our tax dollars for medical care, food, roofs over their heads, education, etc..., so too this idea of foreigners coming in here buying up huge tracks of land and property is a foolish allowing by the U.S. Government. We will have nothing left in 50 years....will be owned by "others"... will be reduced to homogenized owners of our own country.

12. eduvigest on Saturday, Jul 10th at 07:16:PM said...

I suppose is Ok for foreigners to buy property here in U.S.A. AS LONG AS THOSE DON'T INTENT TO CHANGE THE FOUNDATION OF THIS COUNTRY!!!
We Have Freedom to Persue A Dream, Have Opportunity, Consideration and Responsability to Become A Citizen, Learn The History & The Language"ENGLISH".

13. JOHN on Saturday, Jul 10th at 07:24:PM said...

REMEMBER ALL OF YOU,S AS YOU,S DRIVE YOUR JAPANEESE CARS, SHOP AT WAL-MART AND EVERYTHING THAT YOU BUY NOT MADE IN AMERICA, YOU,S ALL WHINE AND BLAME OTHERS BUT YOU ARE THE ONES MAKING THE PURCHASES, GREED-SELFISHNESS IS AMERICANS TRACE.

14. t-rex on Saturday, Jul 10th at 02:59:PM said...

Our borders need to be closed! No foreign buyers should be allowed. If obama can shut down the drilling in the gulf,he can shut down the borders.But,I`m afraid his plans for our country isn`t quite what the gullible people that voted for him had hoped for. You wanted change,I hope we live through it.

15. Ella on Saturday, Jul 10th at 05:59:PM said...

T-rex most americans have not figured it out yet regarding what is happening in Washington. how long can you spend with out having creditors pounce on you. What do you think China is going to do? someone must stop this insanity! Mr"O" will also give amnesty to all illegals, that is sure to give him a big boost for presidency in 2012.

16. linda on Saturday, Jul 10th at 03:13:PM said...

In my neighbor hood. Busloads of chinese tourist come and buy foreclosed homes for cash. The banks wont help modify your mortgage.But if your from another country with cash they throw the americans aside.This is why most americans get fed up.The government will also buy a house and use it for a half house with 20 people living in it.

17. InsideQuestions on Saturday, Jul 10th at 03:48:PM said...

By the time we "get fed up enough" it will be long too late to put Humpty Dumpty back together again! It is preposterous that foreigners come over here armed with millions in CASH, and are able to acquire and own very important and vast amounts of real estate.

There should be a law against this.... and right away!! Buying a home or two is one thing....Buying tens of millions of dollars of prime real estate land couldn't be more stupid on our part....Unless you talk about the trillions being wasted on illegals, people getting social security that can't even speak English and never paid into the social security system. WHY? WHY CAN'T WE SEND THEM HOME if they are undocumented. Why can't it be a dangerous thing for them to come here in case they get sick (and have no coverage in U.S.) or get hungry... we will provide only enough food to get back home.... etc... Why can't we change things within six months? All legal immigrants are welcome..but they have to come through properly, have a sponsor, etc... NO foreigners buying vast sums of property with cash.

18. Diane on Saturday, Jul 10th at 07:49:PM said...

linda - where does this happen? where do you live?

19. Avice on Saturday, Jul 10th at 08:27:PM said...

The biggest problems we have are stupidity and greed, and this is just why these things are happening. They aren't going to buy my property simply because I am not going to sell it and I have no mortgage so it is not going to be foreclosed.

And if you are so gung ho for America, WTF don't you capitalize it. You show a total lack of respect and should get out. That should help with at least one problem and probably both.

20. Dave on Saturday, Jul 10th at 03:19:PM said...

It's just a matter of time before americans will HAVE to learn the arabic language,I'm just happy I won't be around when america will be owned by a foreign country, selling to foreigners should be stopped right now

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