prisonerno6
User ID: 24357052 United States 01/26/2016 02:25 PM
Report Abusive Post Report Copyright Violation | The Luxury Housing Bubble Pops – Overseas Investors Struggle to Sell Overpriced Mansions Yesterday’s Bloomberg article titled,The Surge in U.S. Mansion Prices Is Now Over, is really interesting. Here are a few choice excerpts: The six-bedroom mansion in the shadow of Southern California’s Sierra Madre Mountains has lime trees and a swimming pool, tennis courts and a sauna — the kind of place that would have sold quickly just a year ago, according to real estate agent Kanney Zhang. Not now. Zhang is shopping it for a discounted $3.68 million, but nobody’s biting. Her clients, a couple from China, are getting anxious. They’re the kind of well-heeled international investors who fueled a four-year luxury real estate boom that helped pull America out of its worst housing slump since the 1930s. Now the couple is reeling from the selloff in the Chinese stock market and looking to raise cash to shore up finances. Prices for the top 5 percent of U.S. real estate transactions remained flat in 2015 while all other houses gained 4.9 percent, according to data from Redfin Corp., a real estate brokerage and data provider. [ link to libertyblitzkrieg.com] |
Anonymous Coward User ID: 70892230 United States 01/26/2016 04:27 PM Report Abusive Post Report Copyright Violation | Re: The Luxury Housing Bubble Pops – Overseas Investors Struggle to Sell Overpriced Mansions Investments in foreign countries are always risky. You're probably not as familiar with the culture and economy as you think you are, and it's easy to make mistakes. The day might come when someone will come in with half of what they're asking, and they might have to take it, because they're in such bad shape that they're desperate. |