CANNES-The cleanest dirty shirt in the closet. Channeling Johnny Cash, that's how Chris Ludeman, president of CBRE Capital Markets, describes the US. Foreign investors see it as a safe haven, he says, despite the concerns, concerns such as the Congressional stalemate, a $13-trillion debt and a 30% FIRPTA tax.
In fact, in a recent AFIRE survey of its global membership, 39% indicated greater confidence about investing in the states than a year ago. And among favored places for investment bets, four of the five top cities were in the US: New York City, Washington, DC; San Francisco; and Houston.
(Cushman & Wakefield has just released it's International Investment Atlas, revealing that the global property investment market saw a modest 6% rise in activity during 2012 with volumes reaching US$929 billion.)
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
