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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: 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.

41 posted on 02/01/2009 8:35:33 PM PST by The_Media_never_lie
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To: Pelham

I’m not sure what that has to do with anything. It would appear that these folks are investing not moving in so what’s the point. Since they are investing I’ll bet they will do what they can to protect the investment after it is made.

BTW living in FL, it is/was considered a place of mass immigration. Just not all of it from outside the US. LOL


42 posted on 02/01/2009 8:35:57 PM PST by WHBates
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To: hreardon

First they got our jobs, and now they’re coming to buy American homes with the money they made from our jobs. That really sux! The globalist traitors in DC have destroyed many America families, because of their greed and their lust for power! They should be tried and be executed for their crimes, or at least spend the rest of their lives in prison without the possiblity of parole. Our way of life is over.


43 posted on 02/01/2009 9:02:23 PM PST by NRA2BFree
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To: Pelham
Those Chinese better learn Spanish if they are planning to buy in southern California America.

There, I fixed that for you. LOL There is not one state that has escaped being over run by Illegals.

44 posted on 02/01/2009 9:06:48 PM PST by NRA2BFree
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To: The Duke

They are welcome to buy up houses in our area. And if they put their kids in our public schools, we might increase our math score averages....


45 posted on 02/01/2009 9:13:45 PM PST by PGR88
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To: Aglooka

Good points....somehow the Free Traders will spin it that the ChiComs helped the housing market.

Amazing how some who go around claiming “free market capitalism” are in bed with the largest most bloody Communst party ever to exist


46 posted on 02/01/2009 9:15:24 PM PST by UCFRoadWarrior (Open Borders should be only for bookstores, not the third world hellhole known as Mexico)
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To: PugetSoundSoldier

Japan isnt Communist China...

Celebrating Communist Chinese purchasing American real estate is sick...and wealth redistribution even Marx, Lenin, and Stalin couldnt dream of...


47 posted on 02/01/2009 9:17:19 PM PST by UCFRoadWarrior (Open Borders should be only for bookstores, not the third world hellhole known as Mexico)
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To: WellyP
The Japanese got in at the peak and lost their money. the Chinese are buying at distressed prices and will make money. They have been excellent business people for 6000 years and know a deal when they see it. They have been buying top tier properties all over the USA for almost a year now. The middle class stuff in tract subdivisions is of no interest to them.
48 posted on 02/01/2009 9:19:54 PM PST by April Lexington (Study the constitution so you know what they are taking away!)
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To: businessprofessor

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


What re-education camp did you stay at?

China moving in the direction of property rights? You reallt believe THAT?


49 posted on 02/01/2009 9:21:01 PM PST by UCFRoadWarrior (Open Borders should be only for bookstores, not the third world hellhole known as Mexico)
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To: UCFRoadWarrior

I know that the Chinese have lots of cronyism and environmental problems. I still believe they are moving towards property right protections. You have to admit that we are moving in the opposite direction. The Chinese are very capitalist. The corruption in the government can get in the way. If you can stay under the radar, you can operate with much less interference than here. I think it is much easier to start and operate a small business in China than here.


50 posted on 02/01/2009 9:35:39 PM PST by businessprofessor
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To: Sender

Yeah America loses again.


51 posted on 02/01/2009 10:47:04 PM PST by Tempest (Greed is putting money before PEOPLE.)
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To: jws3sticks

You should send them your resume as well, because they’ll own you soon enough.


52 posted on 02/01/2009 10:48:18 PM PST by Tempest (Greed is putting money before PEOPLE.)
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To: WellyP

Right they’ll just come here to put us in servitude


53 posted on 02/01/2009 10:49:29 PM PST by Tempest (Greed is putting money before PEOPLE.)
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To: businessprofessor

Chinese small businesses in America act with very little restrictions alright, illegal gambling backroom, prostituion rings, opium dens, all the good stuff.

And whe they open up their busnesses to under cut yours! Oh that’s when the real fun begins!

Woohoo!


54 posted on 02/01/2009 10:51:51 PM PST by Tempest (Greed is putting money before PEOPLE.)
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To: hreardon

As a former Realtor, I can say that negotiating with Asians is a whole different ballgame. They start impossibly low (or high if selling), and negotiate endlessly. It’s a game to us, it’s their CULTURE. While Americans will get bored or angry after about 3 counters, Asians are just warming up. That being said, I’ll let anyone overpay for my house if they are of a mind to do so.


55 posted on 02/01/2009 11:01:29 PM PST by Republic of Texas (Socialism Always Fails)
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To: The Duke

They do indeed make good neighbors, and are in general quiet, honest, clean, hardworking citizens.


56 posted on 02/01/2009 11:05:48 PM PST by Lexinom
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To: Tempest
Chinese small businesses in America act with very little restrictions alright, illegal gambling backroom, prostituion rings, opium dens, all the good stuff.

Are you speaking about Chinese in the USA or in China? In China, there are probably very severe penalties for some of these activities. China could use more regulation and enforcement for vices. Still, the Chinese economy is much freer than ours. The Chinese need more property rights and environmental regulations. They are moving in the right direction as we move in the opposite direction.

57 posted on 02/02/2009 6:45:12 AM PST by businessprofessor
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To: PugetSoundSoldier
Selling property to Japan in the 1989-1990 recession was one of the smartest things we did. Not only did they pay more than the properties were worth, they ended up having to sell them back half a decade later, at a loss.

Ironically, buying those properties was also one of the smartest things the Japanese did. Some lost money, some broke even and some even made money. But all of them did better in US real estate than they did in Japanese real estate and stocks. I suspect the Chinese experience will be similar.

58 posted on 02/03/2009 9:39:11 AM PST by Zhang Fei
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To: businessprofessor
Still, the Chinese economy is much freer than ours.

How can an economy in which the government owns majority stakes in most of the country's largest companies (and handpicks the senior executives from the ranks of the children of senior Party members) be freer than the American economy?

59 posted on 02/03/2009 9:43:49 AM PST by Zhang Fei
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To: Zhang Fei

You raise a good point. The Chinese obviously have problems with cronyism at the top. I have heard complaints while visiting China just as you indicate.

Counterbalancing the top cronyism is the lack of the myriad of stifling laws that we have. I think it is far easier to employ others, operate a business, and start a business provided that you are not big enough to draw attention from the local party hacks. If capitalism did not flourish in China, the economy would not have grown at such a high rate. I think there should be more regulation to deal with obvious labor and environmental problems, but even with some level of additional regulation, China has a freer economy than we do or at least that we will after the rats control the show for the next years.


60 posted on 02/03/2009 9:37:09 PM PST by businessprofessor
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