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Charles Mudede

A tweet by Mike Rosenberg, a business reporter at the Seattle Times, offers a link to an interesting document released by the Association of Foreign Investors in Real Estate (AFIRE). It claims to represent “the ‘who’s who’ in the global real estate investment industry.” The document the organization dropped is called “London Edges Out NY as Top City Among Foreign RE Investors.” It mainly concerns the global investor class’s renewed interest in London’s real estate market after a period of uncertainly caused by the 2016 passing of Brexit. These foreign investors “are [now] less concerned about the ramifications” of the UK’s break with the Eurozone. As a consequence, London’s real estate market is once again the top target for what I call global surplus capital.

The second city is NYC, third is Berlin, and fourth Los Angeles. Interesting enough, AFIRE rates Seattle as the third-best city in the US. It was number four last year, and eight a year after its real estate boom began, 2013. Seattle is ahead of San Francisco and Washington, D.C..

None of this is surprising because, as I have explained many times before, Seattle’s fast growth was bound to attract national and international investments. Our market is as open as any other to the flows of capital. And we…