And who builds those homes and where does the material comes from?
Drywall from China, anyone? LOL.
Materials come from a mixture of places: US, Mexico, Canada and of course China.
New home builders are a mixture of US-based companies and Chinese.
But the Chinese are not just purchasing new homes. They are purchasing everything they can get their hands on, and they are paying with CASH. They don’t want to invest their money in China so they come to the west coast and buy real estate.