November 10, 2007

Foreign cash could boost housing market (AP)

A foreclosure sign tops a sale sign outside an existing home on the market in northwest Denver in this Aug. 29, 2007 file photo.  As the housing market crumbles, homeowners are worried about mortgage payments and sellers are worried about slumping prices_ but the companies that insure their loans are worrying about their very survival in the face of billions of dollars in claims. (AP Photo/David Zalubowski, file)AP – The weakening dollar has caused many problems for consumers, but it may also be providing the fuel for one unintended — and very welcome — benefit: a rally in the struggling housing market driven by foreign investors.

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