How can we just hand over BILLIONS in property to people who mostly have DONE NOTHING to earn it.
Meanwhile to the taxpayers can't by groceries week to week.
What happens when your government flushes your country down the toilet for their own personal gain.
Selling realty to foreigners, is a liberal’s dream of allowing the foreigners a toe-hold on the country.
They consider it a “soft invasion”.
We aren’t exactly “handing over” property. For all these foreign buyers, there are American sellers who are making profits off of the sale of their homes.
Willing sellers, American sellers, are pocketing the profits.
I guess people selling homes could refuse to sell to a foreign buyer. But if you could get more money from a foreign buyer, do you really care where their money comes from??? That’s a key issue, in my opinion. They wouldn’t be able to buy American houses if willing sellers didn’t sell.
Go to Mexico as an American and try to buy property. See how that works out for you.
I thought reciprocity was a basic principle of diplomacy?
*Yawn*
And the Japanese were doing the same thing in the 80’s. How did that work out for them?
http://www.businessinsider.com/japans-eighties-america-buying-spree-2013-1
It’s another bubble.
They're implying immigrants...not so...
Money laundering is illegal, except in real estate where it’s perfectly legal (courtesy of the R/E lobby). Turning drug money, extorted money, etc into R/E is a classic means of creating clean assets from dirty sources. That’s why the bulk of foreign buyers are Mexican, Chinese, or Russian.
Here in S Florida Canadians save a lot of communities when they bought up condos. Now with the fall..and still falling Canadian dollar they are not buying. With mexicans I’d bet a lot is money laundering
I have, over the last five years, bought eight homes. Granted I am buying distressed property at the bottom layer of the market. But houses in general are a buyer’s market. Prices are great. Availability is good.
The fact that people in foreign countries are buying is wonderful for sellers who would otherwise face dismal prospects. The Chinese are investing in property at record rates, not because they want to live here, but because they need to shelter their money from the communists. Since they aren’t citizens, they won’t be voting, so it’s not as if America is losing sovereignty. This is a worldwide vote of confidence that America’s economy is improving and these houses will therefore prove to be a good investment.
MAGA indeed!
So just "who" is handing over property to those who have done nothing to earn it?
The average price of a home purchased by a buyer from China fell from about $937,000 to $782,000,
Sounds to me like they CAN afford it.........
And for the record dude, Asians have the highest rate of business and community assimilation than any other race entering this country............
I have no problem with them and thank God I was never born to them. As parents they're ruthless taskmasters............LOL!
Living in South Florida and running a middle class condo here are my observations:
This is a very good turn of events. The smart people in Eurostan; those who have made something of their lives are looking for a place to run. The smartest ones are running to Florida and Texas. The ones who have old money but no brains will move to California and soon be parted from their money.
Here in South Florida we are seeing a buying frenzy fueled by people fleeing the cesspools in South America with fewer from Europe. The Canadian rush, to middle class condos like mine, has slowed to a trickle as their money has fallen way below the American dollar so my corner of South Florida doesn’t see many anymore. The very rich don’t come here.
The golf courses in South Florida are being snapped up and turned into housing complexes. We in America have always benefited from upheavals in Europe and now South America has joined the rush. These are smart productive people so we ought to welcome them. I say let’s skim off all the smart Brits Germans Italians French and other good people in Eurostan and add them to our fold. Let Eurostan sink under the weight of its suicidal self-inflected waves of muslim animals.
“Chinese buyers led the pack for the fourth straight year,”
A friend recently went to a graduation at UCLA. He said 90% of the grads were Chinese.
The course will reverse on its own. It always does. Foreign investors often think real estate here is undervalued, so they start buying it up. Then they find out America is a big country and there’s a reason the prices are so low, and they sell for a loss.
ping