Foreign buyers struggle to buy in U.S.
By Jeffrey Ditri, New York City Residential Rental Specialist
(JAD Realty Group, LLC.)
Foreign buyers are finding it increasingly difficult to purchase U.S. real estate as mortgage interest rates increase by several percentage points and down payments rise to 50 percent for some homes. Europeans had been buying an increasing amount of U.S. real estate over the last few years as the dollar weakened. Real estate agents say that only all-cash deals are easy after the credit crunch.
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