Asian rebalance, alive and well

Foreigners snap up record number of US homes

• Foreign buyers closed on $153 billion worth of U.S. residential properties for the 12 months ended in March.
• That marks a 49 percent jump from 2015-2016, according to the National Association of Realtors.
• Florida, Texas and California drew the most international buyers.

This could be the difference between a recession and muddling through with a 1.5% growth. Like a white swan, but goes away quickly when the ten year yield pops.