2008-06-11 — time.com
As bad as the U.S. housing bust has been, the falloff in sales has been cushioned by foreign buyers in such places as New York City and Florida. Anne Marie Moriarty, a vice president of Corcoran realtors, says residential real estate sales to foreigners have doubled in the past 15 months.
This is the only reason Miami isn't a smouldering crater.
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