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Foreigners: They're Back!

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Now that the Irish and Russians are out of the game, which group of internationals will step up to take on all this new housing inventory? The Chinese! Michael Stoler reports: "A group of 40 Chinese investors will be visiting New York City, Boston, California and Las Vegas for a 10-day home-buying trip sponsored by Beijing-based real estate Web site SouFun Holdings. These investors plan to view foreclosed properties ranging in price from $300,000 to $800,000." A real estate investment advisory firm has set up group visits by Chinese buyers to Sky House near Madison Square Park, Battery Park City's Visionaire and the Forté in Fort Greene. [Real Deal]


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