If you see somebody driving half in the roadway and half in the bike lane at 9 mph then 45 mph, you don't even have to guess...you know.
Posted on 08/30/2015 6:58:19 AM PDT by SeekAndFind
After yet another drop in the Shanghai stock market and Hang Seng index on August 6, Daniel Chang heard his cell phone ping.
The real-estate agent was on a business trip in Shanghai, and he was mid-bite during a dinner when he saw his phone light up from a message on his app, WeChat.
It was a Chinese client concerned over a $6 million property she was about to buy in New York City. She was visiting New York at the time.
"I don't know if I can do this," she told him over voicemail. "I might have to back out."
She wanted some time to reconsider, she said, and maybe recoup her losses on the Chinese stock. She was considering dropping the $600,000 she had already put down on the cooperative — she had already lost as much on the stock market.
Then, over the course of a week, the Shanghai Composite had a brief and unsteady rise, while the yuan devalued by 3.2%. Chang's client surveyed the apartment one more time.
She closed the deal.
Chang's client is one of the group of wealthy Chinese caught in between a rock and a hard place: Leave their assets in China to potentially weather additional market volatility and yuan devaluations — or put it in real estate that is now more expensive than just a few weeks earlier.
"Lots of my clients have been hit heavily by the equity market," Chang, who was once a vice president at HSBC's private bank, told Business Insider through a series of interviews. "But that only makes them more determined to diversify out of China."
The chaos of the past few weeks is likely to lead to an acceleration in the rate of real-estate purchases by wealthy Chinese buyers in the US and elsewhere.
(Excerpt) Read more at businessinsider.com ...
I remember when the Japanese thought this was a good idea.
Purchasers from Communist China are already responsible for over half the purchases in many California cities and towns, and have been for several years.
The leading real estate brokers fly to Shanghai and Bejing and hold sales seminars there selling used California tract houses, etc., on the spot.
Realty brokers also meet buyers visiting California from Communist China, picking them up at the airport and taking them on purchase tours before returning them to the airport so they can go home.
This is big-time business, not just an occasional sale or two. Also, Communist Chinese come to visit USA (and we are told, many stay here). You can see the changing demographics of entire cities ... just by opening your eyes....
The premise of this article is nothing new.
FYI.
and, not to over-generalize but.... you can see the Chinese women’s distinctive driving methodology from a mile away ..its quite amazing and definitely something to be observed (if only from a self-preservation perspective).... .drifting across three lanes at once... and... 12 mph on the boulevard, which magically roars up to 92 mph in the Costco parking lot, especially if there’s one open space by the front door
This has already been going on for many years.
Great. The average price on the mid-Peninsula (SF) is going to jump another million dollars. Our kids can’t afford to live here unless they are making 300k at Google or Facebook and are fleeing California. What a mess.
They have been buying sight unseen for years now. Just a video tour and make the purchase. Many have moved here. Our town has a whole new character, now. I guess it’s ok if you favor Mandarin.
If you see somebody driving half in the roadway and half in the bike lane at 9 mph then 45 mph, you don't even have to guess...you know.
UCLA: University of Caucasians Lost among Asians :)
It’s happening in many places. I was in Cyprus earlier this year. The financial crisis of a few years ago left thousands of residential properties on the market. These are now being actively marketed to Chinese. If you buy property in Cyprus, you can qualify for a permanent EU residency visa.
The Japanese and then the Chinese tried to buy up Hawaii property 30 years ago. I remember one Realtor showing us a nice property that had just been purchased by a buyer getting their money out of Hong Kong - purchased for gems.
I remember average suburban homes purchased by Japanese investors and let them just sit vacant
Lucky the US does not restrict real estate ownership by foreigners like Mexico. /S
Then sell your home to some idiot from China for $3M and have your kids move somewhere else.
This is something for all Americans to pay attention to, and we need to change something.
What the situation is right now, is that Chinese can make lots of money, then buy up American land.
That situation does not work the other way around. In other words, the current situation is heavily biased in favor of Chinese.
Either China needs to change it, or we do.
They need to talk to the Japanese investors that took a bath on Pebble Beach.
High-end real estate has been setting records all year and the dollar is very strong. What could go wrong under this scenario for Chinese buying such properties? They won’t lose it all and probably not even half, but they’re going to take a bath, imho.
I wonder if those birth tourist women from China are doing that so they can have more than one child. Maybe they can have only one baby that is a Chinese citizen?
Lots of people don’t want to sell and pay Hussein a dime.
I may get that bumper sticker myself! Ha! Perfect Thanks
Looks like a win-win for the the good old US of A.
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