Re:Where have all the sacked tech workers gone?
by taude on Tuesday March 28, 2023 @01:56PM
(#35345160)
I have to find the article, but my understanding is 15% of all US residential real estate is bought by foreign buyers, and then combined with the 25% that's bought by investment firms, a total of around 40% of the US housing marking is off the table.... Should be pretty easy to find the articles.
EDIT: it should be noted, that foreign investment was down the last couple years do to covid, though.
Re:Where have all the sacked tech workers gone?
by Bukhmanizer on Tuesday March 28, 2023 @03:16PM
(#35346360)
> my understanding is 15% of all US residential real estate is bought by foreign buyers
It’s not. If an article says that, it’s using such an absurd methodology that renders it useless.
The number likely hovers around 2-3% depending on how you define foreign investor.
There’s no QA around these types of articles and every incentive to just come up with the biggest number possible to try and rile people up. Often these are press reports from people with vested interests in real estate.
Maybe I misunderstood you, but that article says out of house purchases by foreigners, 42% were by foreign buyers living abroad, and the other 58% were by foreign buyers living in the US.
US citizens buying property _vastly_ outweigh foreign buyers, in both numbers and dollar amounts.