By Jack Minor –
While the Beatles were part of the initial British invasion in the 1960s, a second wave appears to be arriving as British investors have begun to look into purchasing properties in the United States.
What growth there is appears to in large part due to foreign investors. Property Report noted on Friday that a group of wealthy Chinese investors were planning on purchasing high-end and luxury properties in Japan and America.
Property Report noted that developers and real estate agents in Tokyo have reportedly been publishing Chinese versions of their sites while the Los Angeles Times reported on how Chines investors have been buying up golf courses in the US. The paper noted that high-profile Chines investments in 2013 amounted to $14 billion.
However, while the focus has been on China, British investors have been purchasing US properties largely under the radar screen.
“Housing prices are at a premium in the UK right now so the opportunities for investment are somewhat limited,” Dan Vassiliou, CEO of Vasco World Properties said. “By contrast, the United States has an established rental market and with the banking regulations that are making it difficult for Americans to get home loans it makes it an ideal investment opportunity for British investors.
Vassiliou operates two popular sites in the UK for those seeking to investment properties in America; www.americanhousesforsale.co.uk/ which people can access by clicking here and www.housesforsaleinamerica.co.uk which people can view for more information on British investments in America.
President Obama has been making a series of speeches saying that Americans are better off now under his presidency than they were in previous years.
“By every economic measure, we are better off now than we were when I took office. You wouldn’t know it, but we are,” the president said Friday during an even in Minnesota.
“Over the past 51 months, our businesses have created 9.4 million new jobs. Our housing market is rebounding. Our auto industry is booming. Our manufacturing sector is adding jobs for the first time since the 1990s. We’ve made our tax code fairer. We’ve cut our deficits by more than half. More than 8 million Americans have signed up for private insurance plans through the Affordable Care Act.”
However, the numbers do not appear to support the president’s claims. For one thing in 2007 146.6 million Americans were employed but today the number has dropped to 145.7 million being in the workforce.
In addition, while housing markets are booming in areas such as South Dakota and Colorado which are experiencing an oil boom as well as other pockets around the country, overall the national market is actually in a bit of a slump.
Nationwide home sales have fallen five percent compared to the same period last year. Additionally, the Washington Post, a paper known to be friendly to the administration noted in a recent headline “Two charts that show why the housing market is off track.” Currently home sales are at 2010 levels.