Foreigners’ Favorite

Los Angeles’ slowly improving economy helped make it one of the five favorite U.S. cities of foreign real estate investors in 1996, according to a recent survey. It was the first time Los Angeles, which ranked No. 4, made the list since the annual survey was started five years ago by the Assn. of Foreign Investors in U.S. Real Estate, a group of 115 overseas-based owners of U.S property.

Los Angeles replaced New York in fourth place. Atlanta was ranked No 1., Washington No. 2 and Boston No. 3. Chicago was ranked No. 5, bumping Dallas off the list.