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Does This Destroy Foreign Buying?

Started by nyc10022
over 17 years ago
Posts: 9868
Member since: Aug 2008
Discussion about
ok, so the dollar is up and the euro down, we know that has already had some impact on foreign sales of manhattan apartments. But how is today being seen by foreigners? Even if the currency trade is off a little, if they saw long term value, thats one thing. But I wonder how anyone overseas seeing this can NOT be at least a little scared of what they see... What happened to the foreign buyers? Do they completely disappear once they see the carnage and the first declines (which we now seem to officially have in Manhattan).
Response by mbz
over 17 years ago
Posts: 238
Member since: Feb 2008

Foreign buyers always disappear in a hurry. As usual, they will be the ones left holding the bag.

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Response by nyc10022
over 17 years ago
Posts: 9868
Member since: Aug 2008

The 20 Pine thread got me thinking... I have to assume that a lot of foreigners planned to rent out their purchases. But when inventory seems to all hit at once in markets like this, I have to figure that is going to cause some trouble. If word about units going into foreclosure because rent doesn't cover payments, I have to figure there will be some foreign effect.

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Response by stevejhx
over 17 years ago
Posts: 12656
Member since: Feb 2008

There were never any to begin with.

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