Florida Mortgage | Foreign National Homebuyers - "Dollar weakens on Subprime Woes" is good news for you!

Today my Google Alerts popped up with a story from DowJones' MarketWatch.

Euro at high vs. dollar amid subprime worries

This is great news for Foreign National Buyers in the US.

"The euro was up 0.7% at $1.3717. The dollar was down 0.9% against the yen at 122.12 yen. The British pound was up 0.5% at $2.0255."

As the US Dollar weakens, Foreign Investors and Foreign Nationals looking to buy investment and/or vacation homes in Florida will find that the conversion rate will be that much more favorable.  In terms of where the dollar should be, this presents foreign buyers with veritable bargains in this market.

While the US economy remains shaky under the pressure of the subprime mortgage woes, big stocks like Home Depot are suffering.  The confidence in the current administration coupled with these economic problems and the Fed's current stance on controlling inflation are all fueling this continued market upswing in favor of Foreign Nationals.

While interest rates are low, Foreign Nationals are finding it easier than ever to purchase properties in Florida that will allow them to cash flow as well as capitalize on long term asset appreciation.

It is not often that both assets - Cash and Property - can appreciate simultaneously.  For US Buyers, Inflation aka Time Value of Money assures there is no such thing as Return on Equity - but Foreign Investors can overcome this over time when the dollar recovers.

While the Florida Real Estate market remains at its current state of high inventory and low prices, bargains do exist.  The resurgence of Foreign Investment should pick up some of the slack in the market and help the market rebound from the past two brutal years.  In the meantime, Foreign buyers will surely benefit from the market rebound that they will help kick start. 

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David A. Podgursky, MBA
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