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China is top foreign buyer of US housing at $6.1 billion last year
Posted on 7/21/22 at 10:24 am
Posted on 7/21/22 at 10:24 am
Ready to pay rent to China?
quote:
China is top foreign buyer of US housing at $6.1 billion last year
LINK
Chinese buyers flooded the American housing market with more than $6 billion last year, more than purchasers from any other foreign country.
Foreign purchasers from China bought $6.1 billion in U.S. homes from April 2021 to March 2022, which the trade association’s report said was up 30% from the prior year. Canadians bought $5.5 billion in U.S. housing properties, Indians bought $3.6 billion, Mexicans $2.9 billion, and Brazilians $1.6 billion, according to a new report by the National Association of Realtors.
The average home purchased by Chinese buyers was worth just over $1 million — the most expensive average among foreign purchases and up from China's $710,000 average the year before. The report said buyers from China bought heavily in expensive states, with 31% of their purchases in California and 10% in New York. The Chinese purchases also included 7% in Indiana, 7% Florida, 5% Oklahoma, 5% Missouri, 5% Arizona, and smaller percentages elsewhere.
26
Posted on 7/21/22 at 10:27 am to goofball
even trudeau wouldn't allow this in his country
This post was edited on 7/21/22 at 10:28 am
Posted on 7/21/22 at 10:28 am to goofball
i don't get it; China buys house. Now what? China gets insurants? Who live in China house? People pay rent to china? Please make check to China with a I please.
Posted on 7/21/22 at 10:29 am to GreatLakesTiger24
quote:
even trudeau wouldn't allow this in his country
Doesn't china own pretty much all of Vancouver?
Posted on 7/21/22 at 10:29 am to goofball
Look at how many farms and ranches the chinese investors have purchased on our soil in the last two decades...
Posted on 7/21/22 at 10:29 am to goofball
I don't plan on paying rent to anyone. That being said, I damn sure don't plan on renting a million dollar home.
quote:
The average home purchased by Chinese buyers was worth just over $1 million —
Posted on 7/21/22 at 10:30 am to goofball
Instead, we just send free money all over the world. Our government is so fricking dumb.
Posted on 7/21/22 at 10:32 am to Green Chili Tiger
Let’s make some laws limiting rental maximum for non citizen owners to certain percentage of the purchase price to make this an unattractive investment.
Posted on 7/21/22 at 10:33 am to Malik Agar
quote:
Doesn't china own pretty much all of Vancouver?
Yes lol.
Posted on 7/21/22 at 10:35 am to goofball
quote:
Ready to pay rent to China?
A) Average price was over $1 million, so I don’t believe anyone is renting these.
B) 94% of foreign buyers weren’t from China.
C) Americans purchased $2.24 trillion in housing last year
D) But still, frick China
Posted on 7/21/22 at 10:41 am to Malik Agar
quote:this is what i'm referring to
Doesn't china own pretty much all of Vancouver?
Posted on 7/21/22 at 10:45 am to BigPerm30
quote:Our government sold us out decades ago. Every politician is in it for themselves first, corporations second, special interest group 3rd, and whatever else gets the crumbs
Instead, we just send free money all over the world. Our government is so fricking dumb.
Posted on 7/21/22 at 10:56 am to goofball
I'll laugh my frickin arse off when they start buying up Dupont Circle and democrats start crying about national security.
Posted on 7/21/22 at 10:59 am to goofball
foreigners should not be able to buy farms, ranches, etc.
Posted on 7/21/22 at 11:00 am to goofball
Rent chinee house, fill with chinee fireworks, light it up.
Posted on 7/21/22 at 11:02 am to goofball
Rich Chinese buying a vacation home in Cali / New York for a million plus doesn’t affect the housing market in Louisiana. $6.1 billion isn’t a lot if you really think about the cost of homes these days.
Posted on 7/21/22 at 11:08 am to TigahJay
And it's good for the economy. Even if they use it for rental purposes, they will be paid in USD. You can't spend USD anywhere but the US, so even if they have that money converted in to another currency, it will end up back into our economy
Posted on 7/21/22 at 11:09 am to goofball
What about the companies that are buying up the $200k to $500k homes in many areas where middle class folks are actually feeling the squeeze?
Are they also Chinese?
Are they also Chinese?
Posted on 7/21/22 at 11:11 am to BluegrassBelle
Remember in the 80s when Japan was doing all the buying?
Posted on 7/21/22 at 11:19 am to BluegrassBelle
That's capitalism for you
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