December 23, 2007
Delores Conway, director of the Casden Real Estate Economics Forecast at the USC Lusk Center for Real Estate, said many boomers are taking advantage of low, long-term interest rates and their increased equity in their principal homes to achieve a dream of living abroad. And with the U.S. market slowing, more Americans also are looking overseas for vacation or investment properties. For example, U.S. residents made up 5% of London-area buyers in 2006 and 8% as of October this year even as the dollar flagged, according to statistics compiled by Savills.