A YEN FOR U.S. REAL ESTATE
Outside investment in U.S. real estate climbed 59 percent last year to $385 million and is projected to rise another 11.9 percent to $431 million this year, according to the Association of Foreign Investors in Real Estate. The increase is due in part to the weakening dollar, according to industry analysts. Since reaching an all-time high in the summer of 2001, the dollar has surrendered more than 30 percent of its value on a trade-weighted basis. "It certainly makes sense" that a weakening dollar is encouraging "even more foreign capital to come to the U.S.," says Frank Marro, managing director of GE Commercial Finance Real Estate.
Source: American Banker (12/14/04)
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