The Mortgage Reports

The combination of a weak U.S. dollar and growing supply of real estate is attracting international buyers to the U.S. market.  Today, the Associated Press ran a story on it. 

Not surprisingly, the International Herald Tribune was first to print.

Regular readers know this is a topic I cover fairly regularly, but if you're a first-time visitor and you have an interest in Foreign National mortgages, consider subscribing to this blog via email. 

Every day, I use this blog to discuss real estate, the U.S. economy, and mortgage markets.  Over time, you'll come to understand how there's no such thing as an isolated world economic event and how it all fits together for your world and your personal economics.

The article author called me when he was writing the piece because he knows I count a good amount of Foreign Nationals in my client list.  I talked about how international real estate buyers can provide a floor of support to the U.S. housing market.

The author also highlights Irish real estate firm Castleroc Estates and its growing presence in the Chicago market. 

Aside from Ireland, there are other countries whose citizens are buying U.S. real estate, too.  The British, for example.  Suddenly, a buyer from England has a 2-to-1 rate on their currency exchange against the dollar -- property here can be very cheap.

And, pretty soon, expect Canadians to get into the action, trading in time shares in Orlando for full-fledged property purchases.

Speaking of Orlando, it's a small world.  Wharton professor Susan Wachter is quoted by the author as saying, "The dollar is on sale."  Aside from giving a terrific soundbite, I think Professor Wachter is the actually the mother of Rick Wachter, a guy who I grew up playing baseball with in Philadelphia.

How strange that we're both quoted in this story.

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Dan Green is an active loan officer. Reach Dan via email at or call toll-free to 877-DAN-GREEN.