A recovery in the U.S. real estate market by the end of the second quarter of 2010, according to survey released by the Association of Foreign Investors in Real Estate (AFIRE.
7th Annual Survey, respondents named Washington, D.C., New York, and San Francisco respectively as the top three cities for their investment dollars. “In this survey, respondents echoed those choices saying they expected the same three cities to lead the recovery. The office sector would recover first, followed by the multifamily and industrial sectors.
Foreign Money Getting Interested
This group of 200 surveyed collectively hold approximately one trillion dollars of real estate, including $371 billion in the U.S. 53 percent surveyed rank the U.S. as the country providing the most stable and secure real estate investments. James A. Fetgatter, chief executive of AFIRE says “Their investment plans for 2009 for the U.S. resemble the flight to quality that is creating the demand for U.S. Treasuries.” Foreign real estate lenders say they plan to increase lending by 58 percent in the U.S.
Amazing since we see so much evaporation of wealth in this country - makes me wonder whats going on elsewhere.
* Chart Source: AFIRE
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