Arab sovereign wealth funds funnel oil wealth back into the US as they purchase over 1.8 billion in the form of property purchases, the latest victim the landmark Chrysler building.
The Arab nations flush with massive wealth from oil are actively buying commercial property in the US.
Sovereign wealth funds are government owned entities not private investors as has been the case in the past.
These funds are in effect government purchases of American soil and it has man people, especially in New York very concerned.
According to one New Yorker. "It makes me sick, because all our money is going over there with the oil and it's coming back here and they are gobbling up all the real estate."
The Arab nations flush with massive wealth from oil are actively buying commercial property in the US.
Sovereign wealth funds are government owned entities not private investors as has been the case in the past.
These funds are in effect government purchases of American soil and it has man people, especially in New York very concerned.
According to one New Yorker. "It makes me sick, because all our money is going over there with the oil and it's coming back here and they are gobbling up all the real estate."
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