China's wealthy elite buy San Francisco Bay Area properties at record rate ABC7 San Francisco

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• Is Santa running a bit behind this year? Check out these great toy sales from Amazon's Very Merry Deals event
• Find the best real estate agent and mortgage lender with international expertise
• Bay Area homeowners stress about holiday chill
• How do the Chinese and Hong Kong nationals intend to use their US property?
• News
• Chinese Buying Of US Homes Drops 61% To 11-Year Low As Pandemic, Trade War, And A Weakening US Dollar Take Toll

Foreign buyers usually make up 15 percent of Manhattan’s condo and townhouse market, Miller said. Today, he puts that number closer to 30 to 40 percent. (Nationwide, foreign buyers make up about 7 percent of transactions, though that share is rising.) And while Canadians and Europeans remain prominent buyers, the Chinese share of purchases is growing rapidly. More than any other foreign buyers of U.S. real estate, the Chinese appear to have a predilection for cities.

They tend to invest in foreign real estate as a way to safeguard their money and educate their children abroad, according to a CNBC report. Chen, who has an office in Taiwan, said Chinese buyers aren’t as concerned about the return on investment as the Taiwanese who tend to buy multiple properties. She expects individual buyers to remain active in U.S. markets. "The Chinese are basically politically agnostic," Olson said. "What I mean by that is even though there is a great tension between U.S. government and Chinese, the Chinese citizen seems to be able to separate the political turmoil with the sound real estate investment." They are paying all-cash for real estate in California, using it as a safe-haven for their wealth.

Is Santa running a bit behind this year? Check out these great toy sales from Amazon's Very Merry Deals event

And here I thought it was illegal to discriminate in sales based on race. They buy here because they think the status-quo will stay the same. But for the Chinese trying to hold value to their fiat wealth it might not be easy. The locals in the San Gabriel Valley are cracking down on the anchor baby mid wife loop hole.

Good luck extricating oneself from QE without it all blowing up there Benjamin.

Find the best real estate agent and mortgage lender with international expertise

After peaking in 2016, China’s investor presence rapidly declined in 2017 as the dollar became stronger, weakening the investing power of the Chinese Renminbi in 2018. At the same time, property prices in California have skyrocketed, making other areas more feasible for investments. Since then, trade wars and tightening borders have made U.S. investment less desirable for all types of foreign investors. Since 2006, when I had lunch with Peter Navarro, the bearish author of The Coming China Wars and Death by China, I have been carefully watching the impact of Chinese buyers on the US housing market, and specifically in Irvine.

The decline was due to a drop in the number and average price of purchases. Foreigners bought 183,100 properties with a total value of about $77.9 billion, down from 266,800 valued at $121 billion in the previous period. The troubled real estate company controls a limited share of the Chinese residential real estate market, thus the direct impact on local home prices will be limited.

Bay Area homeowners stress about holiday chill

In addition, US real estate offers good returns, particularly in comparison to other investment options in China. And finally, Chinese investors perceive the US legal system as being more reliable than the Chinese system, which gives them greater peace of mind when investing in US real estate. A foreign person’s income earned in the United States is taxed at 30 percent, according to the Internal Revenue Code.

Here is a house which had not sold for nearly 40 years . Then sold in early 2012 for $420K as a fixer upper. There was some upgrading, perhaps $75K, (not sure if the flipper was Chinese but the owner/occupier now is Chinese). For the not rich enough Chinese nationals they will have a hard time holding onto any wealth outside of the control of the Chinese Mafia State. And when the Chinese searched on Trulia, they focused largely on the West Coast, including Los Angeles, Orange County, Palo Alto and San Jose in California, and around the Seattle area.

Calculate your budget and the amount of money you’ll need to finance to purchase a house. 85% of Chinese buy their US property in an Urban/central city or suburban area, while the remaining 15% purchase in rural or resort areas. This makes the investment in US real estate even more attractive. Three-quarters of the world’s leading universities are located in the United States. For this reason, many wealthy Chinese parents strive to give their children a leg up in life by purchasing a second home in the United States, where their children can obtain residence and attend college. "Many Canadians and other foreigners found Florida so enticing because of its lenient tax laws," said Yun.

 Data on this is hard to come by but anecdotally we know that money from China is flooding into California. How much? The median existing-home sales price among foreign buyers was $351,800, which is higher than the median price of $305,500 of all existing homes sold in the U.S. during the April 2020–March 2021 period. For Chinese buyers, it is even more at $476,500. In past years, Chinese buyers typically purchased the most expensive properties compared to the other top foreign buyers. The dollar volume of homes purchased by foreign buyers from April 2018 through March 2019 dropped 36% from the previous year, according to the National Association of Realtors.

Foreign investors spent nearly $60billion on 98,000 properties - an 8.5 percent from the April 2020 to March 2021. Chinese buyers liked California best, with 31 per cent of them buying property in the Golden State. Chinese home buyers comprise roughly 2% of US housing demand—and far more than that in the gateway metro areas with excellent airport access.

It feels more like the Feudal system is the steady state and that societies with middle classes are out of balance, and will eventually revert back to steady state. I’d sell to any Chinese-American born into our culture and who loves the U.S. constitution and hates the Fed. Matter of fact I might even give them a discount.

Some are buying multiple homes as investments, while others are moving their families to the U.S., intending to stay at least until their children graduate from college. We are entering a time of the American Struggle. Many educated working professionals making close to $100K, like me, can barely afford to buy a home with a single income. My 60-yr-old coworker used to work at a supermarket as a cashier back in the 70s and with that income he was able to afford a home in southern cal.

Here is a flip bought by a Chinese in my neighborhood. Chinese all cash buyers are typical where I live. I have some knowledge on one of these Chinese-purchased properties recently. I think it is common knowledge that Hacienda Heights is one of the communities dominated by Chinese (55% Asian according to Wikipedia).

With that said, I do believe many of those purchase are foolish purchases at the time. Yet the never ending QE makes the genius out of a retard. If interest rates keep trending upward for the next couple of years, the housing market is going to be gutted. The opportunity to lock in a 3.3% 30 year mortgage may go down in history as the lowest rate in US , ever.

Buyers ($3.8 billion) and Mexican buyers ($2.3 billion). The Chinese purchased approximately the same number of homes as Canadians, but the Chinese bought pricier homes and therefore beat the Canadians in dollar volume. The Chinese first pulled past the Canadians in volume in 2015, surged strongly in 2018, but then fell back dramatically in the past year. Challenging conditions in the U.S. housing market, along with tighter currency controls by the Chinese government, caused a stunning drop in foreign demand for American homes. Almost 60 percent of Chinese buyers and 68 percent of Canadian investors made cash purchases, while 25 percent of Brazilin and Mexican buyers did the same, according to NAR. Foreign-based investors were twice as likely to make a cash purchase compared to foreigners based in the US.