Over the last 30 years we have watched foreign funds flowing into the United States for investment in various kinds of real estate. The largest proportions of these funds have been invested in commercial real estate space such as the famous purchase and subsequent divestiture by the Japanese of an interest in Rockefeller Center in New York and in investment by the Japanese in the famous Pebble Beach Golf Course in California. In addition, over the years we have seen increasing levels of investment in condominium and co-op properties principally on the East Coast in New York and the Miami-Palm Beach areas in Florida. Some believe the oppressive weather conditions in northern portions of the European continent account for a significant portion of the co-op purchases in Florida.
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