According to Fast Real Estate, some 24.3% of Australia’s commercial property transactions in 2010 involved foreign investors. That is some $3.1 billion worth of property purchased by outsiders.
No doubt the current state of the economy in the U.S. has contributed to the movement of money and resources to foreign markets. It is interesting to note that the Australian dollar has now surpassed the American dollar in terms of value.
With so much of the world’s economy driven by America and the American dollar, the moves made in Washington, D.C. coupled with a down market have changed the landscape of the global economy.
What’s next, you may ask?
Well, all I can say is you need to contact your congressmen and tell them to stop the borrowing, cut the government, cut taxes, and we will see a huge increase in the economy. Or we can just continue down the path we are on (sounds good, doesn’t it?!?).