Foreign Investors Buying Up Housing In The US

In the last year, people from other countries bought fewer homes in the U.S., spending $53.3 billion, less than before. This comes from a report by the National Association of Realtors (NAR). The number of homes bought by foreign buyers went down 14.2%, the lowest since 2009. One reason is there aren't as many homes available, and borrowing money for homes got more expensive worldwide. The report talked to NAR members who helped people from other countries buy and sell homes from April 2022 to March 2023. These buyers made up 2.3% of home sales. Their home prices were higher, with Chinese buyers spending the most. Many paid in cash and liked single-family homes for vacation or renting. The NAR is a group with over 1.5 million real estate workers.

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[celticfiddle]

We sold our first home last year. We interviewed three realtors and chose a wonderful realtor from Help U Sell. He was full service for less than other realtors would have charged us. He did all the paperwork, put the house on the MLS, did a weekend Open House, paid for the photographer, took all the calls and negotiated for the highest price.We actually had to move across country BEFORE the house sold and he took over the house and sale! A week after we arrived in our new state we got the call the house sold and the money went into our account. It was an incredible experience working with such a fine realtor. Not sure I can share his name. If Kristina says I can, I will.

[TimeMachine]

Foreigners should be forced to sell all private homes. Black Rock and Vanguard should be smacked with antitrust and broken up. They should be capped off on owning family homes and forced to sell the majority of their inventory.

[Smart_Think]

New buildings in nyc that are rent stabilized are hyper inflating the prices of the apartments, giving 2 months free, then a year later, the tenant gets rent control increase on the GROSS price not NET after free months, so then people move out and the circle keeps happening every 1 to 2 years. The housing market is due for a dip to put some of these landlords into check

[AS-kqhw]

Interesting how Canada is similar is some ways and different in others. Justin sounded especially knowledgeable about real estate investors. Solving the affordability crisis is going to be tricky, but I am definitely coming around to the idea of restricting foreign investment in the USA.

Also, it seems like the government (state or federal) could encourage building just by offering a low-interest loan to developers and builders. Reduce their expenses and they are likely to bring more homes (sale and rent) to market. You could even target small businesses, since we kinda wiped them out during the pandemonium.

[cryptoblahblah]

The land neighboring my residential complex got bought by a Chinese company. I live in Vegas. They built a small townhouse complex. We forced them to build 2 stories to allow a 2 car garage per unit, because they wanted their renters to end up parking in the street along our complex.
Very cramped units..

[Thecelestial]

I feel like this shouldn’t be allowed. Not without being so taxed and tariffed to oblivion so that American owners wouldn’t have to happy property taxes.

[marcygriffin]

I’ve had a great RE agent when purchasing my last home in 2021 and I believe that they really earned every dollar paid to them and since the house was only 105, 000.they were under paid…

[youngone]

Emerging markets? The U.S. housing market isn’t emerging. It’s at all time highs and prices over the buying power of its traditional buyers.

[EmilyGloeggler]

I was wondering why there were so many foreign people renting out homes and apartments. Now I know why.

[fireflymary]

Funny you bring this up. Foreign investors are buying land and rv parks, building rv parks on the coast.

[JulyMoon]

"There is a bit of a reckoning happening." I love to hear that. With Canada experiencing that, it gives me a little bit of hope for us in the US. I don't want our require a McMansion, I'd love to have just a small 800-900 sqft (max) 2 bedroom 1 bath house with a cozy yard. Real estate Gods willing, I'll be able to buy in a few years after my kiddo graduates high school.

[prometheus]

Well with respect to Chinese buyers a big factor is going to be the fact that there is increasing unemployment and mass bankruptcies since the US started to decouple. However what's is little known in all the markets where Chinese buyers were a very big part of the number is that China only legally allows US$50, 000 annually to be taken out of China. So many of the Chinese property owners you see in Western cities had to find shall we say less than legal means to get money out of China in order to make those investments. Interestingly enough the government of Shanghai recently arrested the owner of the largest immigration business helping Chinese people get foreign visas as well as is it the capital controls illegally and imprisoned her for several days. She was in prison because she refused to give up her client list but common sense prevailed and now the police have 30 years of records regarding the citizens she helped to sneak money out of China illegally. As you can imagine this has cast a chill against people thinking about doing this in the future but more importantly given the Chinese government's record of kidnapping them and bringing them back to China for a completely fair trial after which they're from guilty the client list actually represents a prosecution hit list of wealthy individuals who can be prosecuted fined and their assets in Toronto or New York or San Francisco or Sydney or London seized and liquidated right at the time when China is desperate for money. Might be why Western countries are finding out that there are secret branches of Chinese police forces in their main cities. Also there are stories of a lot of Chinese students being forced to leave grad school because their parents companies have gone bankrupt back home something that will probably increase rapidly from here

[charlesminckler]

Sellers agent delayed my closing for over a month from incompetence.

[autumnluv]

I'm a little confused, just a few weeks ago you said foreigner investors were running from the U.S. market, but now they're back? Has something changed with the market in the short amount of time?

[gvon]

If you're a foreigner (non-US or non-naturalized citizen or entity) you should NEVER be able to purchase land in the US. There's less accountability should something go amiss.

[matthewmolina]

Abolish real estate agents and decomodify land .

[cjplay]

13:15 - Talking about bad tenants. We want to have an age-based no-renewal policy for a lease. When the tenant gets to age 27, we do not want to renew their lease either at age 27, or their next semester/trimester end date, whichever is later. This is to keep the community "young". Is this even legal? We mainly want to do it for the former foster youth, ILP-centered rentals we want to specialize in.

[mikemurphy]

Where I live if you want to buy land the realtor will not know anything about the land and tell you to look at the land yourself and if you like it call them back Easy money

[amadeuschats]

Thank you for the information. That Elon Muskville sounds like old Pullman village back in the early 1900 in Chicago! You should write a book. 😊

[Kholoured]

It took me 5 minutes to understand your quest was not saying ASIANS he was saying agents 😂