Foreign Buyers Fuel Ailing Housing Market

Avatar — Sun, 09 Mar 2008 06:30:34 +0000

The movements seen in housing markets are found to be coming more from foreigners buying homes for their vacation purposes globally. The problems in the US housing market have effects that have traveled around the world many times over and economies are paying the price. The financial market has been so shaken up that businesses are reeling in the after effects. Fewer houses sold – fewer jobs to build them, more jobless people – less home buyers and the effects just keep piling up. Good thing the European and Asian Markets are faring better that their American counterparts. The Euro has been climbing steadily against the dollar which has dipped time and time again as the government tries to get a handle on the problem. The US government has its hands full with internal and external issues they have to deal with and it may be too much even for them.

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Foreign Buyers Fuel Ailing Housing Market