been watching a current affairs featuring about housing...'

[Grummer]

wealthy immigrants are buying out houses driving alot of NZers out of desirable places, pushing prices up...

alot of NZers are getting frustrated, it was on TV...

now that America has had a big crash and many house price have tumbled...

have there been any upsurge of wealthy immigrants buying out houses and pushing americans to cheaper homes?

Just curious

 

[green427]

I haven't seen any reports of immigrants buying up prime real estate here in the States, however, keep in mind that many folks do not own property outright...they take out big loans.

Many of those loans are indirectly being bought out by foreign companies in Asia, so, in essence, the Chinese are slowly buying out the US without setting foot over here.

History is repeating itself....the wealthy eventually become poor, and the poor eventually become wealthy and take over.