Comments on: Oil Rich Sovereign Funds Buying Up Foreclosures? http://www.therealestatebloggers.com/2008/08/10/oil-rich-sovereign-funds-buying-up-foreclosures/ Real Estate Blog, Mortgage, and Development News Thu, 18 Mar 2010 20:55:14 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Lawrence Cimirro http://www.therealestatebloggers.com/2008/08/10/oil-rich-sovereign-funds-buying-up-foreclosures/comment-page-1/#comment-347244 Lawrence Cimirro Sun, 22 Feb 2009 15:41:58 +0000 http://www.therealestatebloggers.com/2008/08/10/oil-rich-sovereign-funds-buying-up-foreclosures/#comment-347244 Looking for investor / private funding. Am interested in partnership for the purchase of residential & commercial properties in the New York / New Jersey market. Have access to residential and income-producing apartment buildigs available at below-market prices. Looking for investor / private funding.

Am interested in partnership for the purchase of residential & commercial properties in the New York / New Jersey market.

Have access to residential and income-producing apartment buildigs available at below-market prices.

]]> By: Where did all the money go? - Nissan Titan Forum http://www.therealestatebloggers.com/2008/08/10/oil-rich-sovereign-funds-buying-up-foreclosures/comment-page-1/#comment-344688 Where did all the money go? - Nissan Titan Forum Tue, 17 Feb 2009 01:51:25 +0000 http://www.therealestatebloggers.com/2008/08/10/oil-rich-sovereign-funds-buying-up-foreclosures/#comment-344688 [...] Where did all the money go? Oil Rich Sovereign Funds Buying Up Foreclosures? : The Real Estate Bloggers I met a guy today that had been a mortgage broker. Obviously the mortgage market is now dead. I [...] [...] Where did all the money go? Oil Rich Sovereign Funds Buying Up Foreclosures? : The Real Estate Bloggers I met a guy today that had been a mortgage broker. Obviously the mortgage market is now dead. I [...]

]]> By: Santa Barbara Real Estate Voice http://www.therealestatebloggers.com/2008/08/10/oil-rich-sovereign-funds-buying-up-foreclosures/comment-page-1/#comment-243465 Santa Barbara Real Estate Voice Mon, 11 Aug 2008 23:16:46 +0000 http://www.therealestatebloggers.com/2008/08/10/oil-rich-sovereign-funds-buying-up-foreclosures/#comment-243465 Depending on how steep of a discount, this could be scary. I imagine if they were able to drive too hard of a bargain, then complete towns would go under. Seeing the value of all the homes selling at extreme discounts would cause the neighbors to most likely walk away as well if they see their home drop an additional 20-30% percent below what a "normal foreclosure" on the block might of sold for. Depending on how steep of a discount, this could be scary. I imagine if they were able to drive too hard of a bargain, then complete towns would go under. Seeing the value of all the homes selling at extreme discounts would cause the neighbors to most likely walk away as well if they see their home drop an additional 20-30% percent below what a “normal foreclosure” on the block might of sold for.

]]> By: Rob Viglione http://www.therealestatebloggers.com/2008/08/10/oil-rich-sovereign-funds-buying-up-foreclosures/comment-page-1/#comment-243325 Rob Viglione Mon, 11 Aug 2008 05:47:43 +0000 http://www.therealestatebloggers.com/2008/08/10/oil-rich-sovereign-funds-buying-up-foreclosures/#comment-243325 We should be welcoming foreign investors to pick up distressed US properties. Any amount of capital inflows to the country at this point is a good thing. The important thing will be to ensure foreign investment is not used as political leverage, which is a serious consideration when dealing with sovereign wealth funds. These are political beasts, despite the "wealth funds" title. Nonetheless, despite seeming large capital bases (Abu Dhabi fund has $875 billion) these sums are small relative to total asset values in the United States. The country goes through scares every decade or so of foreigners buying up assets (I remember hearing about how Japanese would own all of the US when I was a kid), but the reality is that foreign investment is only a fraction of total investment and contributes to stabilizing crashing markets, which is exactly what we need right now. We should be welcoming foreign investors to pick up distressed US properties. Any amount of capital inflows to the country at this point is a good thing. The important thing will be to ensure foreign investment is not used as political leverage, which is a serious consideration when dealing with sovereign wealth funds. These are political beasts, despite the “wealth funds” title.

Nonetheless, despite seeming large capital bases (Abu Dhabi fund has $875 billion) these sums are small relative to total asset values in the United States. The country goes through scares every decade or so of foreigners buying up assets (I remember hearing about how Japanese would own all of the US when I was a kid), but the reality is that foreign investment is only a fraction of total investment and contributes to stabilizing crashing markets, which is exactly what we need right now.

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