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Foreigners swoop into Miami real estate with piles of cash

2015-05-31 20:18:33| Real Estate - Topix.net

A working-class couple identify a home they want to buy, they work with their bank on a mortgage and prepare an offer, only to find that the property's been purchased by a foreigner who plunked down a full cash payment. That situation is partly why Miami has become one of the most expensive cities in the U.S. to buy or rent a home.

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