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“The dollar has gotten stronger, and that makes the investment appeal that much weaker,” said Melissa Cohn, president of Manhattan Mortgage Company.

Cohn says the number of international buyers in New York City has dropped by 50 percent in the last six months. And with credit tight, the list of mortgage companies in the city willing to finance a purchase by a foreign resident has dropped from 10 to 4, she says.

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U.S. real estate market woos foreigners

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