Types Of Bankruptcy

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December 24th, 2007

Foreign Buyers Snap Up 2nd Homes in US

“There are some Boston neighborhood where it makes sense for students to buy and some where it does not”

Panden Rota, a Nepalese producer of fine rugs, is about to become a Manhattanite, the owner of a sumptuous apartment in the luxurious downtown neighborhood of Battery Park City.

His primary residence will remain Katmandu, but his new home will allow him to spend more time at U.S. showrooms that display his rugs and with a brother and sister in New York. ‘I looked at many places and I decided that a Manhattan apartment will always hold its value,’ he said.

Rota is part of a growing wave of foreigners who buy second homes in the U.S. for work and play and as an investment. Read more



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