The Communist Chinese buying of California houses ended for awhile in 1989 when a large Asian newspaper published a large expose type article what a ripoff prices there were, when buyers could get 4 houses elsewhere in USA for the same money. California prices took a steep nose-dive and stayed somewhat depressed for several years (later recovered when the Chinese started buying again, and other factors).
Any market that is so dependent upon one source of demand...however... is “asking for a big fall.”
And the overall cycle is due now anyway, so..... beware is about all we can say. Beware.
Where about in California do you live? Have you lived here long?
Have you been familiar with the areas that the Chinese took over and what they have done? Do you remember the population they drove out [Mexicans] or that for the most part they have been glowing assets and have improved their communities?