British Buyers Move to Invest in the Repossessed US Homes Market

British property investors (dissolutioned with the UK property market)  have moved away from the British market to buy houses in the Repossessed US Homes Market

One buyer who has bought a four-bedroom home property in Detroit for £30,000 UK Pounds – $47,500 US Dollars  – they will now rent out the property – while at the same time appreciating that the rental return – will be a low return – they still estimate that the investment will give a better return for  a similar investment in UK which of course could not be processed for 30 thousand bucks!

Of course the Detroit investment will be a winner when the house value increases as the US property market recovers

More details here courtesy The Guardian – read more – quote – British investors unable to afford buy-to-let properties in the UK are buying ultra-cheap repossessed US homes in a bid to profit from rent guarantee schemes and possible long-term capital appreciation when the American economy recovers.

The homes are selling for as little as £20,000 in cities such as Detroit, where the combination of long-term unemployment and the credit crunch has led to house price falls of 70% since 2006, with few signs of any imminent recovery.

http://www.guardian.co.uk/money/2011/jan/30/buy-to-let-repossessed-homes

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