Americans are scooping up real estate bargains... overseas
"The U.S. dollar is still strong and the economy is good and the rest of the world is a little softer," said Jason Kumpf, a real estate specialist at USForex. "It's a great time to increase your pieces on the international Monopoly board."
Property prices in some European markets fell 40-50% during the financial crisis and haven't fully recovered, according to global real estate consultancy Knight Frank.
Combine that with the strength of the U.S. dollar creating favorable exchange rates, and deals abound. For example: A 500,000 home cost around $683,000 last July, according to Knight Frank. Now, that property has a price tag of roughly $558,000.
Experts identified Fra