We’re tired of hearing it: “Compared to London or Paris, San Francisco looks cheap to the Europeans. Especially with the strength of the Euro.” All the while the London market seems to be tanking, and according to the Economist, “Investors from outside North America bought $8.6 billion-worth of real estate [in North America]…but sold $11.6 billion.” That hardly seems to qualify as a Euro feeding frenzy (and leaves us wondering what they know that we don’t).