[pedalling_faster]

Foreign Buyers Snap Up 2nd Homes in US / Effect on Mortgage
Backed Securities, the full title i wanted.

one of the more serious, and more dire, articles about
the effect of MBS devaluations described losses in the
range of $500 to $700 billion, (multiply x 4), and a
$2 to $2.8 trillion contraction in lending.

i've been thinking that the devaluation of the dollar
will tend to solve the immediate MBS dilemma, as
Vladimir and Olga, and other families around the world
realize they can buy second homes in the US for cheap.

http://www.breitbart.com/article.php?id ... _article=1

there's never just one cockroach ? i think we'll see
more articles like this.

[Twilight]

$this->bbcode_second_pass_quote('', '"')Relying on foreign real estate investors is fundamentally as risky as relying on subprime mortgages," he said, noting that both phenomena distort demand and can conceal the depths of the problem U.S. home buyers and sellers face. "Foreign buyers aren't going to save the U.S. housing market. They're just a temporary fix like a finger in the dike. Fundamentals matter."

[Andrew_S]

I fear that even Nepalese rug producers and foreign students (or whoever) are not really able to support this Ponzi scheme futher.

This article I read just today really gets to the point IMHO:

financialsense.com Housing - As Simple as That

[I_Like_Plants]

And ultimately, foreigners' possessions in the US can be nationalized, that is, the law changed so you have to be a citizen to own here, and if they don't like it, tough titty.

It's just a way to keep the Ponzi scheme going a bit longer.