"There is danger from all men. The only maxim of a free government ought to be to trust no man living with
power to endanger the public liberty." - - - - John Adams

Wednesday, June 22, 2011

Brazilians are buying up American property; Americans sink into poverty

NEW WORLD ORDER:   Brazil is marching toward capitalism
and wealth while the United States is doing the 100 yard dash toward
Socialism and poverty.

Capitalist Brazilians are buying up Florida real estate while Socialist Americans sink deeper into poverty

The party that was "the American Century" is over. . . . . and the hung over American is still trying to stick foreigners with the check.

The fact of the matter is America is doing a 100 yard dash toward Socialism, government handouts to all levels of society and poverty.  Americans are being paid not to work.  Tens of millions get extended unemployment, rent subsidies, welfare checks and food stamps.  The United States borrows billions of dollars it has not earned and then the politicians use the money to buy votes so they can stay in power.

Meantime around the world new powers are rising such as Brazil, India and China.  "The Federalist" has reported how China is using their new wealth to buy up natural resources around the world, India is building a new and more powerful military and Brazil is financing American debt.

Now our hard working friends from Brazil are buying up real estate in Florida that Americans can no longer afford to own.

Bloomberg News reports surging real estate prices in Brazil and the currency’s 45 percent gain against the U.S. dollar since 2008 are sending Brazilians to South Florida in search of bargain vacation homes and property investments. That’s helping bolster Miami’s condo market, with total sales increasing 92 percent in the first four months of 2011 from a year earlier, according to data from the Florida Association of Realtors.

In the Miami area, Brazilians bought 9 percent of homes and apartments sold to international buyers in the 12 months through March 2010, behind only Canadians and Venezuelans, according to the Miami Association of Realtors. Since then, “anecdotal evidence certainly points to a significant increase,” said Lynda Fernandez, a spokeswoman for the group.

As many as half of the downtown Miami condos that have been sold to foreigners for more than $500,000 since January were purchased by Brazilians, said Craig Studnicky, president of International Sales Group LLC, an Aventura, Florida, property- marketing firm. Buyers from Brazil also accounted for about half of sales of more than $1 million in Miami Beach.

Recife, Brazil  Population 1.5 million
Brazil is building a new more modern Capitalist society with millions
of people joining the middle class while Americans sink into the
poverty of Socialism and government handouts.

Demand from Brazilians is “growing geometrically,” he said. “Next year, it’s clearly going to be the dominating force.”

The Brazilian real’s increase against the dollar since the end of 2008 is the best performance among 25 emerging-market currencies tracked by Bloomberg. The nation’s economy, Latin America’s biggest, grew 4.2 percent in the year through March 31, compared with U.S. expansion of 2.3 percent.

The fastest economic growth in two decades and accelerating inflation last year made Sao Paulo, Rio de Janeiro and Brasilia more expensive than any U.S. city, according to a survey by ECA International, a London-based human-resources company. Brazil’s home prices rose an estimated 25 percent during the 12 months through May, with prices up 44 percent in Rio.

In Rio’s exclusive Leblon enclave, near the city’s Ipanema district of bossa nova fame, apartments sell for an average $1,058 a square foot ($11,388 a square meter), according to Sindicato da Habitacao do Rio de Janeiro, or Secovi, the city’s real estate association. In Miami’s South Beach, the average condominium price was $354 a square foot during this year’s first quarter, said Condo Vultures LLC, a Bal Harbour, Florida, real estate brokerage and consulting firm.

“Five years ago, it was the other way around,” Studnicky said in a phone interview. “Miami was trading for $500 to $1,000 a foot. Rio was trading for $300 to $500. It has absolutely switched.”

A Lot of Money

“The fact is there’s a lot of money in Brazil,” Melo, 37, whose family made its fortune in Brazil’s sugar cane and ethanol industries, said in a telephone interview from Miami, where he has lived since 2001. “There’s more interest here than New York, because of the prices, and the perception that prices have already fallen so much.”

Coelho da Fonseca Empreendimentos Imobiliarios Ltda, a Sao Paulo-based real estate brokerage, created an international division in May, mainly to assist Brazilians buying property in the U.S., especially Miami.

“Brazilians are drawn to Miami by the opportunity to buy property which they can rent the next day, generating income,” Gabriela Duva, director of Coelho da Fonseca’s new division, said in a telephone interview from New York. “Even those buying for leisure also plan to rent while not using their properties.”

Porto Alegre, Brazil  population 1.4 million

For more on this story

No comments: