Surging Home Prices Blamed On Rich Internationals!
Posted: June 2, 2015 | Source: www.usatoday.comLondon, New York City, Miami and Sydney are cities where home prices have soared in recent years. Wealthy people from Asia, South America and the Middle East are responsible for most of the surge often looking for a safe place to invest their money. According to Knight Frank, a London-based real estate company, as much as 90 percent of prime real estate development in the United Kingdom in 2013 was generated by Asians.