FireSale America

NYT: Overseas Investors Buy Aggressively in U.S.

For some of us older types, deja vu all over again!

The best part was the WWII vets who complained they "didnt go to all the trouble to beat those japs just to have them buy up our country".

For a timestamp... that was about 5 years before the Japanese economy went in the dumper for a decade and we bought most of it back at a profit.

Yeah... there's a difference between then and now - this is even better.

 

It's easy to do the Chicken Little routine when it comes to economics. People did that in the early 1990s. However, I think it has a little more ring to it nowadays. When I see gas prices at $3/ gallon, a dollar up against the ropes against international currency, as many foreclosures as there are in Cleveland, and as much credit card debt as people carry, I worry the Chicken Littles may have a point this time around.

 

...and financing it WITH our deficit.

Which is why I'm not exactly sure a 'stimulus package' is such a good thing right now.
The big 'suckin' dollars back in' is just starting.

On the fence, I am.

 

Living in the epicenter of foreign real estate investment, and seeing how it drives costs way up for long-time residents, I can't help but be opposed to the extent of it.

I don't think a stimulus package is a particularly good idea. From a governmental standpoint, it's giving away money that is needed. From an individual standpoint, it's a short-term situation for a long-term problem. $400 (or however much) in people's pockets is nice, but it doesn't really do anything to address the large-and-rapidly-growing disparity between rich and poor in this country.

 

please please foreigners come buy lots and lots and lots of real estate in Cleveland. And while your at it build an MLS soccer stadium too.