Tuesday, July 11, 2006

A new market for us

There's an enlightening piece from yesterday's WSJ entitled South Korean Cash Flows Into U.S. Real Estate.

It speaks about the fact that although our U.S. market has been softening, a favorable currency exchange rate allows these Koreans to still invest here in the states and make good returns. They're betting that the U.S. dollar will strengthen, causing the value of their U.S. holdings to appreciate when converted into Korean currency. The slow growth in the U.S. is still better than Korea where high taxes on real-estate profits discourage speculation.

Maybe a new market for real estate attorneys? I have access to plenty of Korean translators.

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