REAL ESTATE in the NEWS
Foreign Buyers Spent $20 Billion Less on U.S. Real Estate
Travel restrictions associated with the coronavirus kept many foreign would-be buyers out of the U.S. last year - and that kept billions of their dollars out of the housing market. Home purchases by international buyers and recent immigrants plummeted 33% from the previous year, according to a recent National Association of Realtors® report. International purchasers spent roughly $54.4 billion on U.S. real estate -down considerably from about $74 billion a year earlier. But that doesn’t appear to have hurt the housing market overall.
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What, Exactly, Is Being Disrupted In The Real Estate Community Right Now?
In this most extraordinary of real estate environments, where according to both the Wall Street Journal and the Financial Times, U.S. residential real estate prices have grown in some cities by roughly 25% in one year alone, it can be challenging to even summarize the collective disruptive technologies bursting forth in the real estate community.
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