Thursday, June 21, 2012

Which foreigners are buying US homes?

                                                   Data Source: The Economist

The US housing market has been down in the dumps ever since the global financial crisis escalated in 2008. However, US homes have not lost their flavour for foreign buyers. As today's chart of the day shows, buyers in Canada and China accounted for a larger chunk of home sales to foreigners in FY12. For both the countries, this was a rise from homes sold in FY07. Both benefited from strong increases in the purchasing power of their currencies over this period. For those, whose currencies depreciated against the dollar, the scenario was the reverse as was the case with Britain. India's position remained unchanged despite the rupee depreciating significantly against the dollar. 

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