Japanese purchasing our homes

iVillage Member
Registered: 08-01-2008
Japanese purchasing our homes
11
Thu, 02-26-2009 - 12:32pm
I saw in the news yesterday that several groups of Japanese people went to California to purchase homes that were on sale and homes on foreclosure. That's well and good for the banks and the owners of those homes but might this become a trend? They came by the bus full! What will this do to our economy? Is this a good idea? Isn't selling our homes the same as large companies hiring foreigners? How can this improve our own economy. Wouldn't it be better if we kept the money here?
I'm not a financial whiz... What are your thoughts?

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iVillage Member
Registered: 03-23-2003
Thu, 02-26-2009 - 3:27pm

Maybe it's because of where I live, but I don't see it being a huge issue.


iVillage Member
Registered: 08-30-2002
Thu, 02-26-2009 - 4:04pm

This was very common in the last real estate recession. It was very common for the



iVillage Member
Registered: 03-18-2000
Thu, 02-26-2009 - 4:16pm
The infusion of dollars, where ever they're from, will help the economy. (I remember in the 80's Japanese were purchasing acres of commercial

 


Photobucket&nbs

iVillage Member
Registered: 03-30-2007
Thu, 02-26-2009 - 4:54pm
Oh, I remember that from the last real estate recession.
Avatar for claddagh49
iVillage Member
Registered: 07-20-2004
Thu, 02-26-2009 - 4:56pm
I saw a segment on TV a few weeks ago about how people were retiring to Mexico because it was so much cheaper. They were going into assisted living centers.
iVillage Member
Registered: 02-26-2009
Thu, 02-26-2009 - 8:58pm
If ivillage will stop emailing me I will stop posting!
Avatar for lucy4980
iVillage Member
Registered: 03-26-2003
Thu, 02-26-2009 - 10:22pm

Many homes in my neighborhood have been vacant for months - and months and months.

iVillage Member
Registered: 01-22-2009
Thu, 02-26-2009 - 11:49pm

Hi :)

Community Leader
Registered: 04-05-2002
Fri, 02-27-2009 - 8:09am
Exactly. I don't see what the problem is, unless it's again xenophobia.





iVillage Member
Registered: 08-01-2008
Fri, 02-27-2009 - 10:47am
"xenophobia", That's a little extreme, I don't fear or dislike other people from other countries. I myself have lived in Spain and I'm from Cuba.
I just wondered how this affects Americans who would eventually buy when given the opportunity, hopefully in the near future. Owning a house is a good investment for people that live here. I would think that people from other countries are in it for the investment and will make the housing market fly back up in $ value and we will have the same problem surface again of homes costing more than they are really worth...

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