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Maybe that’s why rents are so high here lately. I’m hearing things like…
“The interest rates are so low, older people are emptying bank accounts, and buying houses cash for their kids or grand kids etc. or…”
Massive buying by foreigners with cash in NYC. They pay real high, and drive the native sellers out of NYC and buy on Long Island and pay too much and still have cash left over. One of them paid $469k next door to John in Bayshore. A $300 k neighborhood.
In some cases people are afraid of a financial collapse and buy houses instead of Gold for protection. Sometimes it looks like panic buying going on before interest rates go up. I spoke to a real estate lady recently and she sees problems ahead.
“In May went to Florida, everything was fine.” When she came back? Everything was different. “Nobody showing up at open houses”. I think while they tell us about all the deportations, at the same time there is mass migration into NYC.
Ca.
out here the foreigners are buying up LA…..not the suburbs where we live…Especially the Orientals…..seems like they’re used to the congestion and dont mind being crowed in the major cities….aaaannnnnd, they have money and buy cash many times..unlike LI , theres alot more city to choose from . So CAL IS HUGE and spread out…..many different directions to go. …not just east an west…Anyway, I dont plan on ever selling this house so the value isnt important, although the value has gone up since the crash. Market value presently about $600….I paid $725,000 put $75,000 in it .I suppose with the “right” buyer, I could get my money back only because the place is very unique and stunning.All the people that see it,….. you know, delivery people, workers, etc always remark about it I’ll stay put right here I like this place and it’s nice n private too……..
NY
Interesting. Not surprised. The media makes everybody think we are stopping and deporting immigrants, but in reality the USA is getting FLOODED with mass immigration. I took a ride yesterday to the Amityville beach with my new I-phone to take a few photos.
Fist thing I noticed, where the boat launch ramp is, only two people went out on the water. Years ago in the summer, on a Saturday, there would be 10-15 mariners out. A lot less use of boats. Then I noticed the parking lot near the beach. Maybe 10-15 cars? Years ago on a Saturday in the summer the lot is packed with cars.
So I walk to the end of that pier that goes out into the bay for photos looking back towards the beach and pavilion. A friendly guy there crabbing. He says “I’m new here, came from China, I live in Farmingdale” A few minutes later a friendly talkative young lady comes up too and starts chatting. “I’m from Morocco”.
Now I’m looking across to the other pier where the float with diving board is. I remember the first time I ever swam to that float was with you and Stephani by my side when we were kids. It was always crowded. There was absolutely nobody on it.
Now, I’m taking photos towards the beach, not many people, and I’m saying to myself, if I just saw 2 out of 2 foreign imported people on the pier, I have to assume the hand full on the beach are also foreigners.
Basically the fake money that Americans gleefully spent on imports (not me) all these decades is now in the hands of foreigners (claim checks) hitting us in the face, buying the land and property from under our feet with fake money.