Bounding Along: Investors Are Rediscovering the Attractions of Real Estate Markets in the United States
There are fiscal cliffs and there are fiscal cliffs. Some might say that the budget impasse that the United States faces going into the New Year palls against the ongoing euro zone sovereign debt crisis, which is more of a fatal slip off the north face of the Eiger than a mere swan dive off the banks of the Potomac in Washington DC.
The fear has been that if the United States doesn’t solve its fiscal problems, then a recession could follow. Despite the animosity between the two major US political parties, most cross-border real estate investors believe that some form of compromise will happen and that the United States will continue to be the region of choice for international flows of capital looking to swoop into office buildings, regional malls and urban hotels.
“We are convinced that the United States will be one of the main drivers of growth in 2013 despite the looming fiscal cliff,” Marino Valensise, CIO at