Who can take Los Angeles realty out of the housing crisis?


Posted April 24, 2013 by johnharisson

While Americans are wondering if it is worth to be realty owners or not, foreigners looking for cheap properties are eager to grab a piece of the American Dream.

 
While Americans are wondering if it is worth to be realty owners or not, foreigners looking for cheap properties are eager to grab a piece of the American Dream. In the years following the implosion of the housing market, foreign purchases became some spots of light in a gloomy market. The American Dream is not dead, it has just changed. Buyers from Canada, China, Mexico, India and other countries storm the real estate markets of the United States, especially California, in search of cheap houses. The Canadians are on top of all international sales, followed by the Chinese, the Mexican, the British and the Indians. Sales to buyers in Argentina and Brazil have reported an increase of 5%, 2% more than last year. Some of the most wanted properties can be found in the Los Angeles realty market.

Of course, this trend will not lead to the return of the housing market, since international sales represent a small percentage of total sales. But in the case of LA realty, purchases made by wealthy foreigners proved to be significant. More than 40% of international transactions were initiated in the state of California.

The U.S. dollar has weakened against the Canadian dollar, which led to the acquisition of properties in suburban irresistible areas. Further, programs like EB5, allowing foreign nationals to make an investment in America in return for a green card, has boomed. More foreigners than ever, specifically China, have taken advantage of this American legislation. But the notion of owning a piece of the American Dream is different for foreign buyers who see this investment, paid in cash, more like a place available for holiday than a place to start a family or to retire. No matter how foreigner buyers would define or redefine the American Dream, at least they help to stabilize the residential and commercial LA realty market.

Los Angeles realty had benefited from foreigners a lot. House prices fell by 59% during the boom period in 2007, and hit rock bottom in 2009. The residential market in some areas of the state found its salvation in the pocket of Chinese investors. This happened while the cost of acquisition of realty in China grew higher along with increasing of rates and tightening of loan standards, measures which were taken to slow down the course the Chinese real estate market has taken in recent years. Among the most popular cities in California for foreigners we can include: Los Angeles, San Francisco, Beverly Hills and San Diego.


In a healthy market, renting and buying a home have equal valence. That’s the goal of LA realty agents, that’s what they are trying to achieve. There are a lot of agencies eager to please their clients even with the most demanding requests. If you need advice on what to do when you want to buy, to sell or to rent a house or any other realty property, you should search for on line agencies that could help you solve your problem. There are a lot of specialized sites willing to offer the best quality for their customers.
Foreign investors will not save the Los Angeles realty http://futureinsiterealty.com market. But if major economies like China and India will continue to grow, the interest of foreigners for LA realty http://futureinsiterealty.com could increase.
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Issued By john
Country United Kingdom
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Last Updated April 24, 2013