LOST SOVEREIGNTY
OIL-RICH FUND EYEING US HOMES
There’s a new land grab starting in America.
Foreign money, which up to now has focused its attention on investing in iconic commercial real estate – like Barneys New York and the Chrysler Building – is now moving to scoop up tens of thousands of discounted foreclosed homes across the country.
One sovereign fund, said to have earmarked $29 billion to purchase foreclosed residential real estate, recently hired a West Coast mortgage broker and is starting to search for bargains, The Post has learned.
Q: Why on earth would they do that?
A: Gotta do something with all them wheelbarrow loads of shrinking dollars….
