The Real Deal Miami

Foreign buyers struggle to buy in U.S.

November 07, 2008 10:52AM

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. Florida accounted for 26 percent of all
purchases by international buyers, according to a 2007 survey by the National
Association of Realtors. Real estate agents say that only all-cash deals are
easy after the credit crunch.