[lbo-talk] Reuters: Manhattan defies housing slump, foreign buyers push up prices, sets record highs

[Jordan Hayes]

>> "Foreign demand has been a big part of the story,"
>> said Jonathan Miller, director of research at Radar
>> Logic and author of Prudential's quarterly overview
>> reports, but foreigners are not permitted to buy
>> cooperatives.
>
> An odd claim that, needless to say, is quite wrong:
>
> "Why aren't foreigners buying co-ops?

"Foreign demand" doesn't necessarily mean "foreigners buying co-ops" in 
this case (and thus, isn't odd at all) ... it likely means "foreigners 
buying other-than-co-ops" (condos, etc.) where the restrictions are much 
less.  However, that's still a strong component of the demand side, thus 
pushing up all prices.

/jordan