Own Foreign Property? Get the Facts
Forty percent of wealthy Americans plan to purchase a home abroad in the next year and two-thirds plan to do so in the next five years, according to Yahoo Finance. Mexico tops the list for foreign ownership, but Canada, Panama, Spain and Costa Rica are also popular destinations.
There are no official statistics on the number of Americans who own property abroad, but The Association of American Resident Overseas estimates that at least 5.4 million Americans live abroad, while noting that other experts and the U.S. Government have different and widely diverging estimates ranging from three to nine million.
Rodney Brooks
An award-winning journalist, writer and author and my specialty is retirement planning and other personal finance issues. I have written for many national publications, including USA TODAY, The Washington Post, U.S. News & World Report, AARP and National Geographic. I am available to speak on personal finance, financial literacy and the racial wealth gap.
Sign Up For My Newsletter!
Subscribe for the latest news and features
