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 due to the credit crunch.
Foreign buyers struggle to buy in U.S.
November 07, 2008 10:49AM
