Saturday, June 14, 2008

U.S. Home Prices Lure Foreigners

By Aleksandra Todorova

Americans' love affair with real estate may be cooling, but -- thanks to falling home prices and the weak dollar -- attention is heating up from another group of suitors: foreign investors.

Foreign buyers have long looked to certain U.S. markets, such as high-end properties in Manhattan or South Beach Miami, as investment opportunities.

These days, however, real-estate professionals report increased international interest in a much larger range of properties, from $60,000 single-family homes in South Florida's inland neighborhoods to $1 million waterfront villas located just miles from the Canadian border in Washington State.

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