The Chinese are buying up real estate in this country at a record rate. I know r.e. lawyers who say they handle closings where mainly Chinese is being spoken.
Isn’t that what happened with the Japanese right before their financial crash? Everyone was worried about them buying up American properties and then boom, they fell through the floor
This is why they are buying US property. The California bubble peaked out about 5X average annual earnings. Housing in Beijing has gone up to about 18X annual Chinese earnings, or worse. Smart Chinese (or just corrupt) who made money during this boom have known prices are rediculus there, and that is why they started buying everywhere else.
After China crashes, they can sell their assets here, and move the money back. They will likely lose money on the American real estate, so I am not worried about them buying up America. In fact, we will be getting a lot of cash back for free.
“The Chinese are buying up real estate in this country at a record rate.”
That’s a fact. The ChiComm crony capitalists are looking for safe shores to invest and hide their ill-gotten cash. They are also making real estate investments in Hong Kong and London. Realty is quite fungible for the ChiComms. They will sell real estate investments overnight if conditions become unfavorable and invest that cash in another real estate venture of a different country.
The UK is currently selling visas to wealthy ChiComms for £2.2 million a pop, with a required additional investment of £500,000 to a designated “charity.” I believe that the US offers a similar deal although I haven’t found proof of that yet.