The subprime mortgage meltdown and subsequent credit crisis has not only destroyed investor wealth, but altered the landscape of real estate investing. While some of yesterday's most favored strategies will not work going forward, today's savvy real-estate investor can still find great opportunities for growth and profits - if they understand how recent events could shape this industry over the next few years, and into the coming decade.
Given the costly uncertainties of the domestic real estate market, buying a second home in desirable vacation areas within the United States has become nearly impossible for many. Increasingly, Americans are turning to more affordable regions overseas, some stay close-by in Mexico or Canada, while others are more adventurous, looking to parts of Central America, the Caribbean, and Pacific Islands. In Passport to Exotic Real Estate, real estate expert and travel writer Steve Bergsman offers detailed advice on the benefits and challenges of buying overseas property.