Teresa Donohue

Teresa Donohue, a vice president with the New York Mortgage Company, said many Asian buyers opt for the rental-ownership mix."There have been a number of young couples saving and waiting to buy homes in New York, but the prices keep going up," she said.These clients have started exploring two communities in Pennsylvania - Mayfair and Castor Gardens - as well as Norwich, Conn., close to the popular Foxwoods and Mohegan Sun casinos.

"We've financed several investment properties and second homes there because people are buying great little places ranging from $110,000 to $140,000," Donohue said."They're getting a nice rental income off them."

These couples still live in New York, and are waiting to see what develops in the communities in which they've purchased, she said.