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Housing Market Snapshot: Why Is Foreign Investment Declining?

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post in Daily Dose, Featured, News The Best Markets For Residential Property Investors 2 days ago August 6, 2020 1,233 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Foreign Investment global investment National Association of Realtors About Author: Andy Beth Miller Home / Daily Dose / Housing Market Snapshot: Why Is Foreign Investment Declining? Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Andy Beth Miller is an experienced freelance editor and writer. Her main focus is travel writing, and when she is not typing away from her computer at her home in the Hawaiian Islands, she is regularly roaming the world as a digital nomad, and loving every minute of it. She has been published in myriad online and print magazines, is a fan of all things outdoors, and finds life (and all of its business, technological, and cultural facets) fascinating in their constant evolution. She is excited to spectate as the world changes, and have a job that allows her to bring a detailed account of those constant shifts to her readers at home and abroad. Sign up for DS News Daily Previous: Customer Experience: Listen, Experiment & Measure Next: Carson Announces HUD Will Resume Physical Inspectionscenter_img Housing Market Snapshot: Why Is Foreign Investment Declining? The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share 1Save The Best Markets For Residential Property Investors 2 days ago Foreign Investment global investment National Association of Realtors 2020-08-06 Christina Hughes Babb The National Association of Realtors (NAR) recently released results from a survey, which showed America experienced a 5% decrease in annual foreign investment in home sales. According to survey data, foreign buyers invested $74 billion in the direct purchase of existing homes during the year spanning April 2019 through March 2020. This represents a 5% fall from one year ago and also marks the second year in a row that there was a decline in foreign investment in United States residential real estate. NAR Chief Economist Lawrence Yun commented on the decline, citing possible factors attributing to it: “Foreign buyers and recent immigrants have become less of a force in the United States housing market over the last couple of years. A lack of housing inventory–the primary factor hindering domestic buyers–is also holding back some foreign buyers. Additionally, less cross-border travel, falling international trade and fewer foreign students attending American universities are impacting foreign homebuyers.”Other statistics highlighted in NAR’s report included the fact that China and Canada ranked among the top two spenders in America’s residential sales dollar volume, posting $11.5 billion and $9.5 billion, respectively. This duo has managed to maintain these top positions since 2013.  Fast on China and Canada’s heels were Mexico ($5.8 billion), India ($5.4 billion), and Colombia ($1.3 billion). Among these top five spenders, China was the only one that spent less than the year prior (down from $13.4 billion last year to $11.5 billion this year). The major “upset” within this group was Columbia, which ousted the United Kingdom from its previous fifth place roost. Yun also shared his predictions for what to expect in the coming days: “In the upcoming year, better opportunities may become available for foreign buyers in large cities like New York and San Francisco. New patterns of domestic migration are trending away from expensive cities to more affordable suburbs and small communities because of the pandemic and greater work-from-home possibilities.”  Subscribelast_img read more

Jason Day and Brendon Todd share the lead at PGA Championship

first_img Associated Press Television News COMMENT Jason Day took his first step toward a return to the spotlight in the majors Thursday at the PGA Championship.Brooks Koepka never seems to leave.Day took advantage of a TPC Harding Park that never felt this accommodating during the practice rounds. With only a mild breeze and a welcome appearance by the sunshine, he finished his bogey-free round of 5-under 65 with an approach to 6 feet for birdie on No. 9, the toughest hole on the course at 518 yards.That gave him a share of the lead with Brendon Todd, whose round was equally impressive. Playing in the afternoon, as the wind strengthened, Todd made seven birdies and finished with a 10-foot par putt.They were one shot ahead of nine players, a group that included major champions from years gone by, a PGA Tour rookie and the one guy – Koepka – who shows up at every major no matter what kind of shape his game is in.Koepka is the two-time defending champion, presented the opportunity this week to become only the seventh player in the 160-year history of major championship golf to win the same major three years in a row. It was last done 64 years ago.He’s still a little annoyed that he missed a similar chance last year down the Pacific coast at Pebble Beach, when he finished runner-up in his bid for a third straight U.S. Open.Koepka hasn’t won in more than a year. His left knee has been bothering him since last August. No matter. After a slow start, he powered his way to six birdies and made a series of key putts for par – and one 12-footer for bogey – that gave him an ideal start to this major.He was at 66 with eight other players, a list that included former major winners Justin Rose, Martin Kaymer and Zach Johnson, rising star Xander Schauffele and tour rookie Scottie Scheffler.“It’s only 18 holes right now,” Koepka said. “I feel good. I feel confident. I’m excited for the next three days. I think I can definitely play a lot better. Just need to tidy a few things up, and we’ll be there come Sunday on the back nine.”Tiger Woods ran off three birdies in a four-hole stretch toward the end of his round that offset a few mistakes. He opened with a 68, a solid start for a 15-time major champion who has played just one tournament in the last six months.Woods put a new putter into play – this one is a little longer, which he says helps him practice longer without straining his surgically repaired back – and it came in handy. He made a 30-foot birdie early. He was most pleased with a 20-foot par putt on No. 18 as he made the turn. And he was thrilled with the weather.“I thought anything today in the red was going to be good,” Woods said.In this case, there was a lot of good to go around. Just under one-third of the field -47 players – broke par. That included Bryson DeChambeau, who broke his driver on the seventh hole after another vicious swing. Oddly enough, it finally gave way when he leaned on it ever so slightly while picking up his tee.He was able to replace it and challenged the lead – he was 4 under through 10 – until he slid back to a 68.Instead of the wind and chill and the thick marine layer, it was pleasant enough to make this feel like a casual round of golf.It sounded like that, too.Woods is used to tournament golf in the COVID-19 era. Spectators have not been allowed at any tournament since the PGA Tour returned two months ago. So that was nothing new. Still, there was a starter speaking into a microphone on the first tee, and he stuck with the tradition when introducing past PGA champions. Woods has won it four times.“It still funny,” Rory McIlroy said. “You know, ‘99, 2000, 2006, 2007 PGA champion, Tiger Woods. And then there’s nothing. That’s pretty interesting. That’s definitely different.”McIlroy, Woods and Justin Thomas, the No. 1 player in the world, each started with a birdie on No. 10 to no applause. They still had the largest following in two months, some 60 people – reporters, photographers, camera crews, a few park rangers. And there were fans along the road beyond the fence on the 12th hole shouting for Woods.McIlroy overcame three straight bogeys early in his round for an even-par 70. Thomas was going along fine until a pair of double bogeys, one on the seventh hole when his ball never came down from a Monterey Cypress tree. He shot 71.The start was a good sign for Day, the former No. 1 player in the world, because he has struggled so much since his last win two years ago. His back gives him trouble. Off the course, his mother was battling lung cancer in Australia. And then he finally made a clean break from his longtime coach and lifetime mentor, Collin Swatton.But he registered three top 10s coming into the PGA Championship, and his confidence is growing.Ditto for Koepka. He missed the cut at the 3M Open in Minnesota two weeks ago, went home to Florida and during one range session was so frustrated he heaved a few clubs. But a quick video review and some technical work revealed his weight was on the wrong side. He made the adjustment and tied for second last week at a World Golf Championship.And this is a major. Big Game Brooks is at his best in these.“He seems to find his comfort zone in these tournaments, in these environments, for whatever reason that is,” McIlroy said. “I think we are all just lucky that he doesn’t find it every other week.” First Published: 7th August, 2020 10:45 IST Last Updated: 7th August, 2020 10:45 IST Jason Day And Brendon Todd Share The Lead At PGA Championship Jason Day took his first step toward a return to the spotlight in the majors Thursday at the PGA Championship. SUBSCRIBE TO UScenter_img Written By WATCH US LIVE LIVE TV FOLLOW USlast_img read more