More American exceptionalism: Wealthy foreigners bought $100 billion in US real estate
So much for the ‘post America’ era that many leftist pundits predicted in 2008 and 2009 – the exact opposite has happened. From surging stocks, to the unending inflow of foreign capital, to a strong dollar, America has been emboldened, it’s economic hegemony only strengthened in recent years compared to the rest of the world, with the exception of China and India, which has fallen behind or stagnated. America is not just pulling ahead of the rest of the world, it’s running victory laps. As middle-America, bombarded with doom and gloom from the sensationalist media, gripe about the lousy labor market, flat wages, and America’s ‘best days being behind it’, rich, high-IQ foreigners can’t get enough of America, buying-up America’s most valuable real estate in the epicenters of intellectualism and wealth creation, Manhattan and Silicon Valley, and inundating America’s most prestigious schools and tech companies with applications.
Related: Why Bay Area/Silicon Valley Real Estate Keeps Going Up