The economic crisis in the USA has spawned a new type of bargain hunting tourist: tour groups traveling to the USA to seek out deals in a free falling real estate market. The first group landed in the states this week. Organized by a real estate company in China the group of about 40 will visit New York, Boston, Los Angeles, Las Vegas and San Francisco seeking foreclosure properties to purchase while taking in the sights, according to NPR.
I don’t resent this type of tourism. The food chain of material consumption is realigning. Perhaps like nature it will evolve to be a more balanced and realistic ecosystem when all is said and done. But I do wonder how much feng shui would be needed to make a home purchased under these conditions auspicious. You can listen to NPR’s report here.
Photo: Boarded up brownstones New York City