It is a wealth transfer from you to foreigners. Your savings are worth less, and theirs is worth more. It is a massive wealth redistribution.
Just ask the Japanese investors that lost big time on their investment in California real estate, to include Pebble Beach.
Actions have consequences. The massive redistribution of wealth is by our own hand. We as a nation are responsible for putting ourselves in a position of having to do a real estate fire sale.
I guess we could see if they are more interested in paper money than something like a building or a house. How about if we increase the interest we pay on T-Bills? Do you consider that a better option?
I don't blame the foreigners for coming in and buying up the place. They were smart with their money (conservative) and now they will profit for it. On the other hand, we spent like drunken sailors and are broke.
In the mean time, the value of my house goes up and so does everyone elses with the new money coming into the market. Bring 'em on!