Since 2017 residential home purchases by people outside of the United States has essentially been cut in half, dropping from $153 billion to $78 billion in 2019.
Analysts cite two main reasons for the steep decline:
- The slowdown in the global economy – particularly China, which is the number one investor in U.S. real estate but has declined by over 56 percent in the last two years. The other top countries include Canada, India, the U.K. and Mexico.
- The U.S. dollar remains strong, making it more expensive for foreigners buying in other currencies.
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