By Michelle Balani and Mary Murphy
Rock Center
Dressed in an expensive pinstriped suit and sporting the latest Louis Vuitton sunglasses, Miami real estate broker Cristiano Piquet is ready to make a sale. He has a client in his shiny new white Rolls-Royce, and they’re on their way to see $9 million apartment at the W Hotel on South Beach.
Piquet’s client, 32-year-old Antonio Luciano, who comes from a wealthy family in Brazil’s sugar cane and commodities business, had already purchased two properties from Piquet over the phone. Now he is in search of a larger home with a better view. Like most rich Brazilians, Luciano is ready to pay cash for that perfect place.
Waves of wealthy Brazilians such as Luciano are landing on South Florida’s shores and spending millions of dollars on vacation condominiums, clothes, furniture, cars and art, all of which are much less expensive here than in their homeland.
They started arriving in the past few years when South Florida was one of the epicenters of the real estate crisis, with vacant buildings and foreclosures all around. At the same time, Brazil's economy was starting to surge, and as costs in Brazil soared, the United States and its depressed real estate prices made it the land of opportunity.
“The prices here are really cheap now,” said Luciano. “If you look for the same type of unit to spend a vacation in Brazil, in a place like Rio, it's double the price. If you go to Rio de Janeiro, you have problems everywhere. You have all the violence. Here, no problems, no violence. You can do whatever you want. You do a nice investment and spend your vacation at the same time.”
“The dollar exchange rate now is very good for the Brazilians,” added Piquet, “so now is the time to buy. And on top of that, the prices of the properties, they went down big time, about 50 percent. It's a big discount.”
Catering to fellow countrymen
Benefitting richly from these spending sprees is Piquet. A Brazilian himself, he launched his own brand seven years ago when he opened a real estate firm catering to his fellow countrymen.
The former race car driver, who moved from Brazil to Miami in 2000, got into the business to guide his fellow countrymen through the process of purchasing properties in the United States, and to make a nice profit from the burgeoning market.
“I was trying to help the Brazilians because I knew how it was to come to United States, trying to do something. There’s nobody that speaks the language (Brazilians speak Portuguese as opposed to the local English and Spanish), nobody that could give us good service. So I said, ‘You know what? I'll do this myself,’” Piquet said.
Now offering a range of concierge services from decorating to luxury yacht rentals, Piquet has become a one-stop shop for his Brazilian clientele.
In addition to the affordable real estate and the climate, Piquet said, his clients love the shopping in Miami, and shopping centers such as Bal Harbour Shops in Sunny Isles have been benefitting from Brazilians’ business.
“Brazilians will not buy anything that is not the best or close to the best,” he said. “They love shopping, and they love the beach. They love the Gucci, Prada, Louis Vuitton, Dolce & Gabbana and Trump. … A brand name, they love it.”
Presidential discussions
The economic impact would be even greater, say local economists, if Brazilians, like Europeans, could come and go using only passports rather than wading through the red tape of applying for tourist visas. In recognition of this obstacle, President Obama recently discussed the subject with Brazil’s President Dilma Rousseff during her first official visit to the White House.
Despite this impediment, Brazilians spent an estimated $1.6 billion vacationing in Florida in 2011, an increase of nearly 60 percent from the previous year. Brazil also happens to be the state’s top trading partner -- in 2010, Florida's trade with the country topped $14.4 billion.
All of this was welcomed news for Frank Nero, who heads the Beacon Council, Miami-Dade County’s economic development agency.
“Brazil is our China,” said Nero. “That's where the economic opportunity here is. … Much as China is to perhaps other areas in the United States, because of our culture and our language, our greatest opportunity is to the south of us. And Brazil right now is the area that I think has the greatest opportunity and potential for us. …Wise folks will be learning their Portuguese.”
For now, the Brazilian wave continues to grow. And Brazilians are not just taking Miami, but New York City too -- buying up multimillion dollar apartments at some of New York’s best addresses. Getting in on the action is Piquet, who is opening an office in downtown Manhattan.
As for Luciano, he’s still shopping. The $9 million apartment wasn't quite right and he’s now looking for something with a little more room. He was last seen on Miami’s Star Island, touring a house that’s on the market for $17 million.
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"Waves of wealthy Brazilians" - you mean all three of them?
This argument was used during the bubble - that Brazilians would buy all these condos. It never happened.
Yes, there are people in Brazil who commute to work by helicopter. But there are far more than make their living finding food in a dump.
While this might sell a few high-end units, it ain't gonna sell your $150,000 condo in Ft. Lauderdale - you know, the one you paid $300,000 for, five years ago.
Another dumb "story" from MSNBC.
Brazil isnt the only country, foriegners around the world are scooping hundreds of millions of American real estate, it may help the economy in the short term but I have a feeling we will regret it down the road. Also does anyone know if that law passed? The buy a house get a free American citizenship deal??
Wow a brazilian homes have been sold...............exactly how many is a brazilian?
GWB wanted to know how man zeroes were in a brazilian too
Welcome to the selling of America. Not just by it's politicians and corporate thieves, but by the people themselves trying to get what and as much as they can while they can.
Soon the righties will get what they want, two social classes in America. The wealthy and the poor with nothing in between. Can't afford a home? Rent from a foreign national.
Obama "I guess since over a Brazilian people have invested in Florida that the Private Sector is doing fine".
That is for you connecticutMick bringing the joke to a current relative time frame.
read about Brazil You are ignorant about their economy !!!
Are you talking about Brazil or America? Article not dumb - only factual and not FUX News.
Sounds like much of the UK.
Let em fight with the cubans and take over miami. Who really gives a rats butt??
USA will be like Cuba soon anyway.
Tell me again what the Congressional Democrats are doing to prevent 2 social classes? Obama basically acts like 2 social classes already exist and he would prefer it that way because he can pit the lower class against the upper class whenever he needs to raise taxes on the upper class. So don't act like the Republicans actually want this because it's really the Democrats who do.
Oh yeah, Brazilians but, not in the Millions. Highly exaggerated article by a poor journalist who is probably a friend from the real estate agent.
This whole article sounds like a cheap advertisement piece of crap as a favor to somebody.
What's next writers?
The Brazilians heard about folks eating faces in Florida and decided it was time to go, since face is a Brazilian delicacy, much like dog in Korea
Pure capitalism (feudalism), like pure socialism (communism), is a total failure. Getting the "mix" right, is the concern of all national governments across the globe. Brazil is no different. Take their highways. Most of the major highways, in Brazil, are toll roads (and quite expensive at that). And, because they've subsidized sugarcane ethanol, they run nearly half of their transportation on gasoline alternatives. Their social "safety net" is both better and worse than in the United States. HOWEVER, their political parties HAVE to work together! And, at this task, America fails of late. Blame who you will, but this is the sad fact, in American politics.
Wow - the ignorance of Brazil's economy in these posts is staggering.
Unfortunately, under the American education system you are taught there are two countries - American and Europe. Anything outside of that and you are completely clueless.
Foreigners are not impacted by our negative media or negative politicians. Smart investments are made by thoughtful intelligent people.
OK, so now we get to see a lot of hot Brazilian chicks in south beach. This is good news, trust me.
Liberals always think they can stick it to the most mobile people, the wealthy. Then they wonder what happened to the money and the jobs. They never learn.
Why all the bitching and moaning? I’ve never seen so many panties in a bunch. So
what people are buying U.S. properties and spending money here how is this bad?
Iwonder
The old don't bit the hand that feeds you arguement.
We just need to give the Rich what ever they want, we don't want to make them mad now do we or they will punish us.
Wealthy people in the US have been buying properties in the Caribbean and Mexico for years.
For those concerned about foreigners buying US assets: go down to Miami and buy a couple of condos for yourself.
This is not news.
It's the same age-old "fear" resurfacing. The fear of a foreign buyout of America's real estate. Just like when it was the Japanese who were buying all the land and turning everything into a golf course in the 80s and 90s.
You don't hear Tiger complaining about the green.
I absolutely do not condone bending the rules when it comes to our immigration laws. Illegals, for example, should be sent back to their home country; however, when it comes to hot latin chicas....well in that case, I believe we can make an exception
funny how the article suggests we learn Portuguese since they only speak Spanish and English in Miami. It's a shame that our legislators don't grow balls and pass the law that is brought up for vote often and is never passed, that ENGLISH is the OFFICIAL language of the USA.
Visiting Miami you often feel like you're in a foreign country given it is sometimes hard to find someone that speaks English.
I just returned from Miami this morning after spending several days there doing IT work. And you are right: it's sometimes impossible to find someone who speaks English.
I was working in a wiring closet at US Southern Command and one of the building managers came in there and started questioning me in Spanish. I guess they just assume that everyone speaks Spanish.
Brandon- isn't it funny how you think it's the dems' fault and WorkingPoor thinks it's the republicans' fault? This is exactly what the media wants! Divide and distract Americans so they don't know who is really responsible.
I spent several days in South Beach last year and got around just fine speaking only English even though I frequently heard other languages spoken openly. Many of those people turned around and addressed me in better english than most folks I talk to in my home state (local Pakistani gas station attendant that can speak 7 languages not withstanding).
The paranoia and inferiority complex of you folks is unreal.
Well, let's see Brandon. Ole Georgie, in one of his more lucid moments, said "I want to create an America of haves, and have mores." He didn't tell us his plan was to destroy the middle class. If he hadn't run out of time, he clearly oowuldhave been successful. As to what the congressional democrats are doing, they try, but the repubs are still following Nancy Reagan's advice. They just say "no!"
IN 50 YEARS MIAMI WILL BE UNDER WATER and then they'll want their money back and want the US GUBMINT to pay them off with TAXPAYER money. Not rich mommy and daddy's sugar cane-raped the poor Brazilian worker money.
Foreigners must own more of the US that Americans!
If I get into office I will put a big sign out AMERICA FOR SALE (brokered by Bain)!
How dare they? Who do they think they are? What gives them the right to speak Portuguese or Spanish? Oh wait, it's called The Constitution of the United States of America. Just because a person speaks another language does not make them a criminal.
shows how far the decline in thje us has gone
And this puff peice was actually meant to show U.S. real estate in a positive light... a rich foreigner came and looked at an apartment he didn't want... woohoo!
big max
Really? so wealthy people from an emerging country buying real estate in our country is bad news? You do realize property owners pay taxes and contribute to the economy right?
Go ahead, keep seeing the glass half-empty, hopefully you don't get a stroke.
.
1. Republicans control the House where all spending originates.
2. No there is still a middle class, but its shrinking rapidly
3. Republicans don't want this my a$$! They have been actively working for it since the early 80s. What they don't want is the middle class to wake up and strike back!
Ol_Doc, you sir are a jackass! The Democrats held the majority in both Houses for Obama's first two years and just what did they accomplish?
NOTHING!!!!!!!
You sir are a jackass! The Democrats held the majority in both "Houses" for Obama's first two years and what did they accomplish?
NOTHING!!!!!!
Brazilians, Chinese, etc. America is selling out thanks to Obamanomics what an idiot well be renting our own homes from the rest of the world in 10 more years with his stupidity running things. Welcome to Pottersville, USA compliments of Obama.
more - you realize the housing bubble burst in 2007 right?
which was BEFORE Obama took office.
seriously, how can people be so...uneducated about a simple reality called a TIMELINE?
and it burst because barney frank and crew pressured banks to give home loans to unqualified people.
It was the stupidity and greed that started with Reagan that started this spiral. Actually it started before him. The transfer of our national wealth to the 1%. In the end that's the way all 3rd world countries are. You have the very rich and the very poor. The guy from Brazil is from a rich family that gained their wealth on the backs of the poor. With uncontrolled capitalism, that's the way it works. I made some money building houses, but I did it with my hands and money, not just sitting back and using cheap labor (other than my own). I am a great fan of free enterprise, but the 1% are not free enterprise, they are free loaders. They talk the talk but don't walk the walk. If we don't start transferring the wealth to those that actually work and produce rather than allowing the "something for nothing" crowd that "let's there money work for them" , we will be like Brazil, or worse.
You go girl.......I'm so tired of everything being Obama's fault. I guess it's easier
to blame him for everything than to put the blame where it belongs.
ROFL - you have no understanding of economics -
As apposed to your argument of Wealthy Americans, vactioning in Brazil, China and most of SE Asia, buying prime real estate there?
If the foreigners aren't not buying the houses you are trying to sell - THEN NO ONE IS BUYING THE HOUSE YOU ARE TRYING TO SELL.
I'll bet your daddy didn't say that about Ronnie Reagan when the Japenese were buying up america in the 1980's...read much?
In less than three lines someone gave Obama supremacy (sorry folk yes I supported him but even I don't think him to be the "be all end all". Personally, that is only reserved for one entity.
And in less than 20 words some else says a Republican President did not hold enough power to stop a member of the House of Representatives...
Which is it? Or could it be that both sides are in favor of it because it lines their coffers with re-election money and "makes" it look like the economy is good. I don't want a rock star, I want a person willing to see more than 2 years down the road and make the hard choices....even if the majority of us as fickle voters get mad and threaten to toss them out.
I know, trollslayer...it's all Barney Franks fault. If only those poor bankers could have afforded lobbyiests to fight his tyranny, the whole housing collapse wouldn't have happened. Are you INSANE? Who in God's name do you think pushed for loosinging mortgage restrictions? THE BANKS, in case you missed the point. They knew they could write a mortgage for anybody, bundle them and sell them as securities, and when the crap hit the fan they wouldn't be touched.
@trollslayer "and it burst because barney frank and crew pressured banks to give home loans to unqualified people"
For that comment to make any sense at all, you have to believe that the only people underwater now did not qualify for a loan. I know plenty of people who were very well qualified for the mortgages they got, but now the value of their homes is a fraction of what it was before, and in some cases, they lost jobs and are no longer making what they used to make. Blaming the entire real estate collapse on Barney Frank is stupid.
@Jessica- Since you are speaking of Timelines, perhaps you should go back a few more years. Bill Clinton and Democrats were the ones that put policies in place to ease credit restrictions that ultimately led to 2007 housing collapse and it is Obama and Democrats and his policies that will make the USA a welfare country.
That's funny you think the *top* 1% are free loaders, when it's the other 99% benefiting (i.e. free-loading) off the *federal* taxes that the top 1% pay in. You got your numbers backwards my friend.
Tell that to the lower class who hardly pay anything in federal taxes but keep complaining that the top 1% aren't paying their fair share. When will this magical fair share threshold be finally given a specific number so that after the top 1% start paying that percentage of their income in federal taxes then they will finally be let off the hook because no one will ever be able to say again that they aren't paying their fair share?
You mean like giving the unskilled workers, for example, $20/hr minimum wage when the *unskilled* jobs could be performed by anyone and thus don't necessitate $20/hr wage? Why should the people who work (apparently the CEOs in the top 1% don't work???) get the money? What do they *do*, other than merely exist, to deserve more money? Did they get a Master's degree? Ph D? Certifications? Or is it just because they are at the bottom 1% that they, for an unjustified and unknown reason, deserve to get more money? Is it because they merely exist and for life to be fair they should get $200k a year just as much as a doctor who went to school for 8 years and worked 18 hour days?
Larry, Larry, Larry, what are we going to do with you? The wealthy are not responsible for the current recession. It wasn't stupidity and greed. It was "life should be fair" mantra that liberals always complain about that started this. You conveniently didn't provide a justification for your knee-jerk reaction to how the wealthy actually caused this downward spiral, i.e. recession. You just blamed the wealthy but *I* will give a detailed justification for why you are wrong.
Let me try to give you a quick, but detailed rundown of the cause and effect: The recession was caused by the housing bubble, which fueled booms in construction and other home-related industries. What fueled the housing bubble though? The same thing that trollslayer said: Clinton and Frank wanted as many people to own a home as possible, whether they actually could afford to do so or not, because the liberal logic says that life should be fair and nothing should be a privilege but instead a fundamental human right, including owning a home. So banks were told to lend to people who didn't qualify under the old rules and they were penalized if they didn't.
This caused more people to buy homes, which drove up demand and construction of new homes soared. Then when it came time for the homeowners to have to pay the increased interest rate on their adjustable rate mortgage (which readjusts after 5 years at the earliest so it at least took that long to take effect) they realized they couldn't pay for a $1500/mo payment on $75k salary. So they defaulted, in droves. This caused a glut of foreclosures and millions of homes went back on the market which meant construction of new homes was no longer needed so the residential construction industry fizzled out. Because *Congress* authorized investment banks to start trading mortgage-backed securities on the open market and because those banks like Lehman Brothers took advantage of it because it was a "sure thing" they collapsed because when all these new homeowners defaulted the mortgage-backed securities became too risky, so their prices fell and the investors lost money. And it's those investors whose money was used by mortgage lenders to pay for those homes. So when the investment banks collapsed all banks stopped lending to pretty much everyone, for fear of not getting their money back. And because most businesses, regardless of industry rely on buying stuff on credit (like GM for buying car parts from suppliers) businesses couldn't make any more product because they couldn't buy on credit any more, which caused them to have to lay off people in droves.
So now, where did this all start? It's obviously a long chain reaction that requires a sensible person to go back multiple links of cause/effect relationships before they reach the *root* cause of Clinton and Frank wanting to lend to everyone under the Sun. This is root cause analysis, not gut reaction analysis by blaming the first political person you don't like.
Now, the people underwater now are just unfortunate bystanders in this situation. They were paying their mortgage that they could easily afford but because they bought in certain cities like Miami and Las Vegas, where many other people purchased homes but then defaulted, home values in those areas plummeted due to how many homes were put back on the market when foreclosure proceedings completed. You don't have to assume it's because they didn't qualify for a loan. That doesn't have anything to do with it.
So you are wrong in stating that 'you have to believe that the only people underwater now did not qualify for a loan'. And in addition to being in the wrong neighborhood, some people were also caught up in the massive layoffs and then they couldn't make their payments any more. But again, these 2 circumstances (getting laid off and being underwater) are just unfortunate side effects of the housing bubble that burst when bad decisions finally caught up with some homeowners who were stretched too thin and it took a few years to ripple through the economy. If the investment banks hadn't been so affected the regular banks probably wouldn't have been so gun shy about continuing to give businesses credit to continue operating.
Jessica, the only kind of "timeline" most of these people understand is the one on Facebook.
So when the banks knowingly bundled mortgaged backed securities that they knew had 90+% bad loans in them and sold them to investors, and other banks, even banks abroad and they had AIG sell them insurance on those bad securities... that was the fault of Clinton and Frank? No it was the fault of the banks who approved the loans. And then we had to bail out the entire system of unregulated securities that the banks created because the republicans allowed banks to get into the securities and trading businesses .... nice try.
BRANDON 1985771: Banks, mortgage companies are in business to make money ! Period.
You blaming hard working Americans for "unfortunate side effects of the housing bubble" for losing their jobs and their homes is sickening. Grow a pair... face the facts, you're an idiot defending big banksters while kicking your neighbors in the balls when they are already down and out is too crazy for words!
Please, shut off your faux news and read a book...
I'm glad your handle isn't "trolleater", that would make you a cannibal. Who the hell are you kidding? Barney Frank pressured the banks...ROFLMAO!! The banks OWN Congress. It's the banks that pressured Congress to end Glass-Stegal which opened the doors for the derivative fraud that caused the world-wide economic crash. Keep watching Fox news...eventually you'll thank the !% for robbing you blind.
So...We the People...are freeloaders. Thank you for clearing that up for me. I wonder where you'll be standing when the sh!t hits the fan?
NEWSFLASH - There wasn't a single loan officer in this entire country that had a federal agent put a gun to their head and force them to make a loan to someone that couldn't afford it. All Barney Frank did was push for FNMA to include more subprime in their portfolio. Here's an even more interesting fact. More than 50% of the mortgages that failed so fast in 2007 and 2008 weren't even qualifying mortgages meaning Fannie Mae didn't even buy them in the first place! The GSEs do not buy no income no asset mortgages. Only banks do and only the stupid ones that failed at that.
BTW - There was major racial and gender and age descrimination in the mortgage marketplace prior to some of the laws pushed in the 90s. If these laws were really the cause, the real estate collapse would have happened in the 90s, not the late 2000s.
Yes banks and lenders are in business to make money but they can't make money on someone who is going to default, unless they jack up the person's interest rate to help mitigate risk. And even then there are plenty of other homeowners who qualify under the old rules that are less risky. So what incentive did they have to start loosening their lending standards? They would be penalized by the laws that went into effect by Congress during the Clinton administration. They also started lending more when Congress authorized the trading of mortgage-backed securities because then the money investors used to pay for the securities went through the system and eventually it provided money to the lenders to give to potential homeowners so they could pay for their homes. The more money investors spent on mortgage-backed securities the more money lenders had to give to people to buy homes. It's not rocket science.
When did I blame hard working Americans? Please quote my text to provide proof if you are going to throw accusations at me. I specifically said those people who lost their jobs and who are underwater are INNOCENT bystanders because OTHER PEOPLE signed mortgage contracts they couldn't pay and lost their homes to foreclosure which made other homes drop in value. Now, what do you want to call the people who signed on the dotted line after being qualified for a $400k home on $100k salary at 7% interest? You need to grow a pair of eyes so you can read what I REALLY said. Stop getting mad at me for what you think I said and read what I said again and QUOTE ME ON WHAT I SAID if you think I'm accusing hard working Americans of something.
Your innate desire to blame Republicans and rich people has misguided you. I didn't get any of the info I posted from Fox News. Now, since I have derailed your typical liberal rant what does your script say to do now?
Not all of us, just anyone in the 99% who live off the entitlements provided by the federal gov't but don't actually need them but still take them because it's better to take the handouts than to go look for a job. Do you feel better now? Geez, if I had to qualify every single statement to ensure that someone didn't take it out of context I'd be a politician.
Besides, if I was calling you a freeloader I'd have to call myself one too, right? I'm not in the top 1%. But I'm not a freeloader because I don't need gov't handouts. I have a job and very little debt. So for the people who do what I described above, what do you call them? Exactly why would the top 1% need to be freeloaders anyway? It's an invalid statement to call the top 1% freeloaders.
And you know why? Because federal agents wouldn't make your exaggerated statement come true because they have better things to do with their time. However, Congress can easily put a *metaphorical* gun to lenders' heads by making regulations that would penalize lenders for not doing what Congress wants. So are you going to stop with the literal gun-to-head statements and listen?
It doesn't matter. The mortgages still failed did they not? Why did they fail? Was it because the homeowner defaulted? I never said the GSEs bought mortgages. I said the investment banks did and I never denied that when the investment banks put a lot of their cash into mortgage-backed securities that it was not a good idea, but back then they had so many mortgages bundled into a given security that investors thought it was a surefire way to have very little risk.
Ok, that may or may not be true regarding discrimination. The laws weren't meant to fix any discrimination based on race, gender or age. They were intended to loosen the lending standards (which, if you haven't looked recently, don't look at race, gender or age but rather income, existing debt, etc.) so that more people could buy a house. Remember when people used to have 20% down payment so that they had at least 1/5 of a stake in a house they were wanting to buy? Well when someone can finance 100% of the cost they have nothing to lose but the bank has everything to lose. So the lender just makes the homebuyer pay a hefty interest rate. And yes, the bank is in the business of making money but they were also prodded to make more loans so they tell the homebuyer they can get an ARM loan with really really low interest for the first few years. "awesome!" says the homeowner. "I'll take it". Then 5 or 7 years down the road the interest rate doubles or triples and they can't make their payments anymore because they have a higher payment than if they had just financed 80% of the home cost and had a fixed rate. So when the person defaults the bank takes the house and they at least got a little bit out of the homebuyer in the extra interest they charged. But when this happens by the millions to just a handful of big banks then bad things happen.
It means millions of home sit vacant, values drop, innocent bystanders who paid their mortgage on time in a house they could afford go underwater and if they are really unlucky, the other homeowners who were responsible get behind on their own mortgage only because they got laid off due to all the ripples caused by the housing bubble. I don't blame any of them, hence why I said they are innocent. So anyone who still wants to say I'm blaming hard working Americans can just shutup because I'm not doing that and never did do that. Hard working Americans who want to own a home the easy way (after the new lending standards kicked in) is an oxymoron in my opinion. Hard working Americans know that owning a home is a privilege, not a right, which is why THEY WORK HARD IN THE FIRST PLACE. I don't know why I have to teach that to some of you but apparently I do.
I realize there are a lot of moving parts in this situation that a lot of people don't want to think about or don't understand but the truth can be complicated. Just watch any crime show on TV.
Also, again, realize none of my info comes from watching TV. It comes from reading a book. Liberals still do that, right?
HERE IS YOUR TIMELINE< STICK IT:
BILL CLINTON MOTHER OF ALL LIARS turned owning a house into a RACIST propaganda class war hate breeding fest! He pressured the fed (Freddie/Fannie) into loosening the downpayment and credit history requirements banks must use and now we have the results. READ Gretchen Morgenson's book RECKLESS ENDANGERMENT where she names Clinton and others. FACT NOT LIBTARD FICTION
rofl
make millions in brazil just to get the hell out of that country?
sounds right to me sure makes sence
but millionaires in brazil are mostly drug runners
the other majority are brazillian politicians
i also heard george bush was told that a brazilian solder died helping fight terrorist
george still wants to know
how many is a brazilian!!!
Yep that Harvard MBA taught him nothing now did it Biodrowski? Need one of dem Harvard law degrees to be a great Prez!
why are americans so clueless and lost about the rest of the world?
it's kind of embarassing
as opposed to just clueless and lost.
KEITH BIODROWSKI-1213062
If only you got out of that rock you've been hiding under for the past 25 years, you'd know how far Brazil has come. Oh, here's another spoiler for you, the cold war is over.
Of course it's easy to be a millionaire in China and Brazil. The workers make pennies on the dollar while the wealthy reaps all the products they sell in market value.
If you make $10 million dollars selling sugar canes and if all your labor and benefit expenses to your workers is $10,000 TOTAL, you get to keep $9,990,000 as your own profit.
Oh the lack of knowledge of most of the people on this page is entertaining! It really makes me laugh. Everyone likes to talk as if they know everything about something that they know nothing about.
It's just great to sit back, read their posts, and in turn prove their stupidity to everyone in the world through their clueless words. Oh btw I'm talking about you Ken haha. Thanks for the entertainment.
I've onlyl been to Peru and Colombia in South America, so I can't speak for Brazil, but from what I saw in those two countries the values are different, they're not "seeking to get rich" they seek to enjoy their lives and just be. The only ones stressing out there are the socialist/communist rebels who want things but are unable to buy them so they are furious and just want to hurt other people.
You Right-wing History Revisionists are an entertaining bunch of Goobers!! ROFLMAO!!
Thank you GEORGE!!
Thank you DICK!!
Let's all go back to the policies that got us into this mess in the first place!!
You mean Barney Franks policies of "free loans for anybody willing to sell their vote"?
How could the Cubans let this happen?
That is sort of what I was thinking. Isn't "Alligator Alley" the boundary" between South Florida and North Cuba?
This article is an attempt to fool us into thinking that a few Brazilians are putting cash into the South Florida market when the high-end homes they are purchasing will do nothing for the real problem of the low-end empty homes who no one can find out who owns the paper on. They should be seized and auctioned unless the owners keep them up. The lawns need to be mowed and the pools cleaned. They are ruining it for the people who have remained. Also foreclosed properties that are condos need to pay their homeowner's dues on time. The banks that own these condos need to do a better job of keeping the associations solvent so that other owners don't end up in foreclosure. If the associations can't collect their dues, nobody can sell their condos leading to even more foreclosures until the whole complex ends up bankrupt and decayed.
There is no deception in this article. it plainly states that the Brazilian buyers want very upscale luxury properties. No where does it even suggest that this will help ordinary homeowners whose mortgage is greater than the value of their modest suburban home.
You obviously have problems with foreclosed properties bringing down the value of your neighborhood but this story has nothing to do with that situation, so why do you bring it up here?
Foreign investors might be good for the real-estate agents but not for the American consumer.
Miami is a 3rd world cesspool of a city, anyway. Let the Brazilians have it all.
Maybe the Brazilians could clean it up, since the US hasn't done a good job
Dude South Beach is one of the nicest places I've ever seen. Sure some parts of Miami are awful but you know what? A majority of the cities in my homestate are crapholes and we don't even have any foreigners to blame it on nor do we have any cultural epicenters or wealthy pockets to even balance it out.
Ya...let's just continue to make housing affordable to only the foreigners! This country's going down the toilet and either too greedy or to dumb to stop it!!!
Why does it matter where the person originated? If they are wealthy then they will give a much bigger boost to the local economy in which they buy their house than any of the lower, or even middle, income families who live in surrounding areas. Why do I know this? Because these wealthy people HAVE MONEY and they want to spend it. Money flows downhill just like sh*t does. The article alludes to this when the author said the Brazilian wanted to buy art, condos, furniture, cars, etc. When they buy anything, expensive or not, that money goes to the companies that sell those items and some goes directly to the salesman if the salesman works on commission. So when the Brazilian buys a Ferrari the local dealership salesman makes a nice commission. So he goes out and buys more stuff and takes his wife out to dinner at a nice restaurant and gives the waiter a big tip. The waiter then goes out and buys a new cell phone or something. The more this happens the more money flows from the top all the way to the bottom. If more companies had workers in the US then some of that "bottom" wouldn't be in China but rather in the US but some of it still says in the US.
This top-down effect is why you don't want to piss off the wealthy by taxing them as much as you see fit because then they will just close their wallet both to buying stuff and to giving money to charities because more will have go to the federal gov't. It's not different than when gasoline drops 50 cents at the pump the middle class families suddenly think they have enough money to go on vacation so they go to a state with a beach and buy stuff that supports that local economy.
Money flows downhill when people don't have to put up with a bunch of unnecessary extra costs like taxes, whether that money starts at the very top or in the middle class, it still goes downhill. It's just that when it starts at the top the snowball is much bigger in the first place.
Steve B-310027
Yeah, we should leave the homes vacant!! We don't need property tax & sales tax dollars or any benefit to our economy from those wealthy Brazilians anyway!
The Brazillians will fit right in at Miami if they like Cubans, I mean the sanwiches......
I don't know. I live a snowbird life. I know the good of owning a home on property. But, it's not an only way of live. Then again, its not that fun being under suspicion of being a criminal either, with so many varied criminal activities going on in RV's these days. Terrorists, meth-labs, sex slave trade,?, cops have so much justification just for a person driving one, to search them. Maybe it's a good idea to move back to a 'set-location' location 'home'. but I still can't stand the idea of having to tolerate a total stranger neighbor as a 'bro.'. My brothers beat me up. Oh, the love. I don't know.
That is just wonderful. Americans are out of jobs and homeless so bring in the Brazillians! We should be ashamed to even be talking about this. I am outraged as are thousands of Hard working tax paying AMERICANS.
You forget one thing. There are no real Americans living in Miami.
Yes there are two of them. I know them both personally.
Brazilians are NOT stealing NOR living off welfare in the US you ignoramus... Americans LOVE to blame others for their own ills.
Letting waves of rich foreigners buy equities on the cheap in the U.S. helps us how, again?
Read my reply to when Steve B-310027 complained that foreigners were buying stuff in the US. The key point is that it doesn't matter whether the people buying or foreign or domestic as long as they buy here and have lots of money to spend. Money flows top to bottom, and no, the government doesn't even need to be involved because it's the way capitalism works. The difference between that and socialism is that with socialism the gov't feels it must be involved to ensure the money flows top to bottom and it takes some out as a middleman. But we all know commerce is faster and cheaper when middlemen are removed.
That is just wonderful! americans are out of jobs and homeless so bring in the brazillians! We should be ashamed to even be talking about this. I am outraged as are millions of hard working tax paying AMERICANS.
AMERICANS FIRST
Rainbowrider: Don't worry, Americans with $10-$20 million to pay for a Miami waterfront home are just as welcome to buy these properties as are Brazilians. Why are you outraged that there are wealthy people from other countries who want to buy luxury US real estate? How does that harm you in any way?
rainbowrider
Just in case you've been using acid for the last 8 years, Miami's economy has been in the crapper. And now they are getting a boost, from Brazilians buying real estate. So should we say "No thanks" to the tax money and the boost to the local economy they can provide??
Why don't you spare the cynicism and do something useful? As if you pay taxes anyway!
Someone that owns a 10 million dollar home usually employes 2 or more people full time as care takers.
Your attitude has brought much HATE towards the American people. Why do you think you are superior than other nationalities? Go get a life and an education and be better informed!
So let me get this straight.......Mr Luciano said: “The prices here are really cheap now,” said Luciano. “If you look for the same type of unit to spend a vacation in Brazil, in a place like Rio, it's double the price. If you go to Rio de Janeiro, you have problems everywhere. You have all the violence. Here, no problems, no violence. You can do whatever you want. You do a nice investment and spend your vacation at the same time.” And in a matter of no time Miami will be another Rio de Janeiro! Why do "FOREIGNERS" destroy their own countries (its not US citizens causing problems or the violence in Rio!!) and then move to the US and proceed to destroy our country and then what? Who's greedy fault will it be then? Maybe our country should enact the same purchase power and red tape that other countries impose on US citizens trying to buy property (investments) in their country!!! Are americans so damn greedy that they don't care that they are selling out the soil right from under their own feet!!!! WAKE UP AMERICA.......Stop SELLING OUT YOUR COUNTRY TO THE HIGHEST BIDDER! Eventually Americans will be the MINORITY in our own country! Can you say the same thing about Brazil, China, Russia, Mexico, Canada????? The world is laughing at our stupid, arrogant greed!!!! I'm glad I'm poor.....I have had no hand in any of this! Thanks to all those who have!!!
Good points..but we are ALREADY a minority...and with over a million new Muslims allowed in SINCE 9-11 we are well on our way to a police state..with occasional exploding buses and trains..just like Britain....America's DAD!!!
NO FREE TRADE WITHOUT FULL EMPLOYMENT!!
90% of our problems are caused by Republican mentality.
I don't think the Republicans are the only political party mucking things up. Each Administration (Dem or Repub) has its own faults etc. Maybe everyone should vote their conscience and use their brains in deciding who the best candidate is, rather than voting a "straight ticket" because they think they have an "inside" track on possible favors.
Has any politician followed thru on election campaign promises? I cannot recall of any in my years of voting. Besides, no matter who you vote for, the electoral college will vote for whom they want in office for the President.
Face it, the majority of politicians are in it for ego and lucre to build their relection coffers.
Maybe there should be term limits on all political offices, not just the President.
How will Americans be the minority when the people that come here become Americans?
"Here, no problems, no violence." Really? I guess he hasn't met George Zimmerman yet.
Considering Orlando and Miami are over 300 miles from each other I doubt he will meet Mr. Zimmerman.
Sorry, I was unaware Zimmerman can't drive.
Rick-in-SD
Well, considering what he's going through now, I doubt his chubby face and his equally ugly wife will be seen anywhere in south beach.
This is pure propaganda. Hey Michelle Balani and Mary Murphy, who in the National Realty Association is paying you to shill this garbage?
Just because some rich guys from overseas buy some high end condos, all is well in Miami right???
You are a blight on journalism and paid shills. Period.
Every dollar counts. But what do you care? It's not like you can afford to be fooled into buying a million dollar condo anyway?
Somebody please explain: why is is good for retired Americans to buy up cheap properties in Mexico, Costa Rica and elsewhere so that they can live comfortably with servants, good food, affordable health care, etc?
If that is okay, and more and more smart American retirees are doing it right now, why is it wrong for "foreigners" like these Brazilians to do the same? Is it that "foreigners" from other countries are all bad but Americans abroad are good? Please explain.
There isn't a difference. It's just a normal viewpoint of narrow-minded cynical Americans that think there is.
Good comment! I finally see that there is hope for America, at least one smart person exist! Wake up stupid Americans.
They say there is no violence, but wait till the Porto pottyricans get tired of the brazillians. We are giving away our couintry. This will be our demize. Just as California give away a little bit more to the Messycans every year. We should have laws just like their countries do. Make it so they can only lease or a limited ownership.
The US does not belong to Americans anymore.......hasn't for years.
Frisky, this continent belonged to people whom the Europeans came and slaughtered to steal their land. Unless you yourself are a full-blooded native American, you are the descendant of land thieves and murderers.
wrong;
Native Americans came over on the land bridge that was across the Bering Strait some 20k years ago. EVERYONE on the face of NORTH AMERICA is an immigrant.
Calling someone who came to a deserted country an "immigrant" is disingenuous. If that's the case then everyone except Africans are immigrants. The point is the Europeans came here and ignored local Native citizenship laws (and yes there were Native governments, laws, and rules for citizenship).
Dave-2478570
That was the most clueless comment I read all day, Newsvine should give awards for comments like those. I would have nominated you for sure.
But back to the point. The US never "belonged" to anybody, unless you could afford a piece of it. White, Black, Brown, even foreigners are in the game!
Deserted implies that someone was here prior, which is not the case.
Yes, we are all immigrants out of Africa.
What the 81
No one owns anything. You rent it until it breaks, you sell it, give it away or you die.
Possessions do not dissolve into the afterlife. That is where you have been fooled. You actually think you OWN things. I bet you buy a new phone or whatever whenever it is announced.. Good puppy.
hey more didnt u know this whole debacle we are in was started while the reprublicans in office? Geesh talk about others people brains not working.
Oh more why is a wealthy casino owner in vegas giving romney 25 million dollars to get him elected and More what about the bankers and corporations giving romney millions to get elected?
Maybe the bankers and the other rich corporations are scared the democrats might have a light bulb go off and figure maybe they should make laws or brin old laws back so that another great recession will not happen.
Brazil, Mexico and other nations are getting richer while the poor USA is getting weaker and poorer, bwaaaaaaaa :)
Yeah, the rich people from other countries are spending their money here, what a loss for the US....oh wait
Where's the outrage about Americans owning property abroad? Madonna's Scottish castle? Clooney's Lake Cuomo mansion? Americans in Mexico? Guadalajara, along with Chapala and Ajijic, is home to 50,000 North American expatriates, the largest colony of retired Canadians and Americans in Mexico. There's many more.
As long as they pay their property taxes, it's a win-win situation.
The situation only becomes a problem when the visitors use the host country and its laws for their own benefit.
If Brazilians are so rich, WHY has Obama given Brazil so many millions, and millions of US tax payer dollars to help fund their oil investment program? After most of the oil companies left the US, Brazil became a big new source for drilling! Once again, unlucky US citizens are enriching another country, while ignoring the plight of America and it's out of work citizens! Some more of that "sharing the wealth"... who knew it would be with anyone and everyone, any country, every country? Geeeeeeezzzzzzz!
Let's see what happens to the peace, no crime, no violence... do whatever you want? Really? We are a country with laws, and I hope you will abide by them! Enjoy your vacation in our country, please take care of it too! Don't forget to turn off the lights, when leaving!
Dear Idiot Concerned Citizen: America hopes to be able to import cheap oil from Brazil so that we can waste it.
wrong again;
BP sells Brazilian gas in America. Brazil imports about <2% of our oil.
Obama didn't give Brazil squat.
The export import bank loaned money to brazil for drilling oil with the stipulation they buy their equipment and materials from the USA. That's what the Export Import bank is supposed to do and it's good for American business.
Another fox news BS talking point.
After most of the oil companies left the US, Brazil became a big new source for drilling!
>>>>>>>
Did these oil companies leave the US?? Or, did they partly buy into other countries and companies in addition to our own? Big difference. Who really owns 30% of the oil? Generally, they (other countries) don't know how to find it, drill it, refine it. So a lot of money comes back to this country.