No RE site is complete without talking about China. So here it goes…
Between 2010 and 2015, Chinese buyers put more than $17bn into US commercial real estate, with half of that spent last year alone. Unlike many countries, there are very few restrictions on what foreigners can buy in the US.
But during the same period at least $93bn went into US homes. And in the 12 months to March 2015, the latest period for which relatively comprehensive data could be gathered, home purchases totaled $28.5bn.
That took the Chinese past Canadians, who have long been the biggest foreign buyers of US residential real estate.
Geographically, Chinese buyers are concentrated in the most expensive markets: New York, Los Angeles, San Francisco and Seattle. Property in Chicago, Miami and Las Vegas is also popular.
It does say the last 12 months’ inflow was 28B, and the last 5 years’ total was 93B. It seems to suggest the trend is up. But yes, it’s not clear from the article.
It is an endless loop, we send money there for goods sold at Walmart and they bring it back and spend it on overpriced real estate. …Works for me, I dont shop at Walmart and own lots of overpriced real estate…lol
Just stop. You don’t even know what it’s about. If you did, then you’d realize making their currency cheaper would make it more expensive for them to buy US real estate.
Haha doubt it. For some reason rich Indians don’t buy houses for cash in US while they are living in India.
If I’m rich I wouldn’t have bought any RE in the USofA. Returns in Indian re in last 30 yrs is mind boggling and they don’t think need a home for their kids to go to school or work in bay area
