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Chinese gear up to buy U.S. homes
Peoples Daily Online (China) ^ | February 1, 2009 | Xinhua

Posted on 02/01/2009 7:01:34 PM PST by hreardon

Attracted by the real estate plunge on the other side of the globe, Chinese homebuyers are gearing up for visits to the United States in February to buy cheap homes, the English language newspaper China Daily reported in its weekend issue.

A pioneering house-buying team of 20 to 30 people, organized by Soufun.com, one of the largest real estate portals in China, is scheduled to leave for the United States on Feb. 12, according to an article on Soufun.com.

(Excerpt) Read more at english.people.com.cn ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: china; realestate
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To: DoughtyOne

They don’t want to sell it necessarily. China is currently buying up property all over the world, particularly arable land. China has been around for a long long time. They think in a long term scale.

Buy homes and land in other countries. Move people there. They populate and spread out from the areas they live in. 200 years and the chinese will take over North and south America. They are buying heavily in Brazil, and other countries down south.


21 posted on 02/01/2009 7:32:06 PM PST by ritewingwarrior (Just say No to socialism.)
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To: dalereed

Those were the Hong Kong Chinese unsure of Chicom intentions. Today many have returned to HK and are comfortable with dealing with the Mainland, however their homes are still kept in Canada as a backup just in case PRC destabilizes or goes anti capitalist. The buyers of the US will be the new rich of the PRC. Many of them will act like princes and princesses, and are very materialistic and will look down at anyone of lesser class stature. Have fun neighbors.


22 posted on 02/01/2009 7:33:29 PM PST by Fee (Peace, prosperity, jobs and common sense)
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To: hreardon

Well there you go. US houses, made in America by the finest Mexican craftsmen, for sale cheap to the Chinese. Will the circle be unbroken?


23 posted on 02/01/2009 7:33:56 PM PST by Sender (It's never too late to be who you could have been.)
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To: huldah1776
No, IMHO the prices have not returned to the pre-bubble numbers at least in our area. We never had much of a bubble here in flyover country.

Maybe the declines are more dramatic in Florida, LA, Las Vegas etc. where they soared at one time.

24 posted on 02/01/2009 7:35:28 PM PST by The_Media_never_lie
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To: huldah1776

“Have the prices returned to pre-bubble rates?”

In California median prices are down to 2003 levels, according to the Case-Schiller Index. That’s a drop of over 40% from peak prices. But that is still about 50% higher than pre-bubble prices.

I think it’s likely that we will see prices drop to pre bubble levels before real estate stops its slide. These Chinese investors are just the next wave of knife-catchers on the way down.


25 posted on 02/01/2009 7:36:07 PM PST by Pelham (Beheading is just a different way of expressing ones relational milieu)
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To: ritewingwarrior

Interesting comments. Thanks for that perspective.


26 posted on 02/01/2009 7:36:45 PM PST by DoughtyOne (D1: Home of the golden tag line: FBI cuts off CAIR for contact with Hamas, Obama wants to talk to.)
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To: hreardon

May be that some Chinese are getting worried about their own internal situation and want to get some of their money out of country while they still can.


27 posted on 02/01/2009 7:36:51 PM PST by fso301
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To: buwaya

I agree.


28 posted on 02/01/2009 7:37:40 PM PST by SIDENET ("If that's your best, your best won't do." -Dee Snider)
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To: UCFRoadWarrior
I wonder how the Anti-American Free Trade Globalists will spin this one

Good for 3 reasons.

1) The dollars that China has been hording will come home to the US. Only, instead of going the the government to buy debt, which would be wasted by our elected officials, it will go into the pockets of private citizens.

2) The influx of capital will raise home values across the board so even people who don't sell will see a benefit.

3) Foreign buyers usually overpay for assets. That means Americans who do sell will likely get richer at the expense of the Chinese.

29 posted on 02/01/2009 7:37:49 PM PST by Poison Pill (Help, I've voted Republican and I can't get up!)
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To: dalereed

“Being a homeowner they got green cards and also government $250k loans @ 3%.”

Isn’t that great. Chinese investors can be Obama’s version of Bush’s Mexican illegal alien army.


30 posted on 02/01/2009 7:38:30 PM PST by Pelham (Beheading is just a different way of expressing ones relational milieu)
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To: WHBates

You evidently don’t live near one of the centers of mass immigration.


31 posted on 02/01/2009 7:40:18 PM PST by Pelham (Beheading is just a different way of expressing ones relational milieu)
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To: UCFRoadWarrior
I wonder how the Anti-American Free Trade Globalists will spin this one..... Our homes owned by Commies....great Isnt wealth redistribution sweet?

You have it backwards. The capitalist Chinese are buying homes from the Commie Americans. This country is turning into a socialist hell while China moves ahead with capitalism. China has many problems but it is moving in the right direction for property rights. We are moving in the opposite direction.

32 posted on 02/01/2009 7:40:50 PM PST by businessprofessor
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To: buwaya
This is good news, not bad.

I agree - the Chinese people will make better neighbors than many of our US-born potential neighbors. And, in many respects, they live in less of a police state than many western nations.

33 posted on 02/01/2009 7:45:27 PM PST by The Duke (I have met the enemy, and he is named 'Apathy'!)
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To: Aglooka

Could this be the giant sucking sound?


34 posted on 02/01/2009 7:47:29 PM PST by screaminsunshine (f)
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To: ritewingwarrior
China has been around for a long long time. They think in a long term scale.

I think they are... hey is that a bunny rabit I just saw.

35 posted on 02/01/2009 7:49:08 PM PST by ReformedBeckite
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To: UCFRoadWarrior

You don’t understand. When the Chi-Coms make all of our stuff AND own all of our property, we’ll have them right where we want them. On the plus side, we sure taught Cuba a lesson.


36 posted on 02/01/2009 7:52:09 PM PST by Wolfie
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To: hreardon
Here's the listing for my lot. If interested, please call Rose.

http://www.trulia.com/property/1068977655-28050-Elba-Dr-Grosse-Ile-MI-48138

It is a beautiful acre of water front land on the best area on Grosse Ile, Michigan.

If interested please call Rose Koval, with my thanks.

37 posted on 02/01/2009 7:57:49 PM PST by jws3sticks (Hillary can take a very long walk on a very short pier, anytime, and the sooner the better!)
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To: ritewingwarrior
200 years and the Chinese will take over North and south America. They are buying heavily in Brazil, and other countries down south.

More likely it will be a lot earlier then that, I predict the dollar will slowly fall cease to be the world dominant currency and the the Chinese currency might take over as the dominant currency of the world. If this happens we will be in deep dodo.

38 posted on 02/01/2009 7:58:15 PM PST by ReformedBeckite
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To: hreardon
Take the money and run!! Remember that the Japanese were BIG real estate buyers 20 or 30 years ago. It was a big scare for a while but nothing happened. Nothing will happen now with the ChiComs buying homes and property because they can't take the houses or land with them!
39 posted on 02/01/2009 8:04:19 PM PST by WellyP
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To: hreardon

why not everyone else is selling America out why should n’t they buy it.

Question: Where do we leave for now?


40 posted on 02/01/2009 8:07:16 PM PST by television is just wrong
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