Weak home prices and dollar

You have seen European coming into the market looking for cheap items. That is an old story now. Now they are in look out for a new thing – US houses. 
 
As the US housing market is going through a tough time and correction is going on in the market, so it is like a good deal for the Europeans.

See the advantages-
1. Strong Euro, Pound, Pesos
2. Lots of inventory to choose from
3. Favorable interest rates

Most of the developers are marketing their products to the European because of the favorable conditions. Real estate companies and agents are getting business enquiries from many European customers. The rate of such interested buyers is increasing.

The loan restrictions are becoming more stringent for the US residents. So people are not buying. Rental industry is increasing at a rapid speed. So the buyers from other places can now buy easily and then lease the property out.

The British pound has a 28 percent increase and Euro has a 44 percent increase against dollar. So, the European buyers are having more purchasing power than their counterparts in the U.S. So, they are using the opportunity and buying out property in the U.S.

International purchaser in the U.S. (National Association of Realtors, mid 2007 Survey)

Florida   26 percent
Texas  10 percent

According to the realtors and market experts more buyers are waiting applying the wait-and-watch policy. As the house prices will go down more and more European buyers will be seen in the US rel estate market. So, WAIT and let’s see.