Even if they never intend to use the house/property. wealthy ChiComs need a place to park their US dollars (safely out of the hands of their own government). This is a result of our trade imbalance for the last several decades; as US dollars flowed to Red China, those collecting it had nothing to spend it on over there.
Arabs are doing the same with petrodollars, buying Western sports franchises (and the 2022 World Cup, apparently).
Higher housing prices mean less dark-people.....Leftists are racist apparently.