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Non-Tech : Investing in Real Estate - Creative Opportunities
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To: Riskmgmt who wrote (2327)7/9/2014 12:38:02 AM
From: Riskmgmt1 Recommendation

Recommended By
Jurgis Bekepuris

   of 2722
 
And more evidence here:

Chinese Lead $92 Billion of U.S. Home Sales to Foreigners
bloomberg.com

Foreigners purchased $92.2 billion of U.S. homes in the 12 months through March, led by buyers from China, according to the National Association of Realtors.

Spending by Chinese buyers soared 72 percent from a year earlier to $22 billion, with their purchases accounting for 24 percent of spending by international buyers, the trade association said today from Washington. Total investments by foreigners jumped 35 percent.

Chinese buyers acquired 16 percent of houses sold to foreigners, up 4 percentage points, spurred by currency appreciation, rising affluence and concerns about an economic slowdown in the world’s most-populous country, the group said.

“It’s just the beginning of a tidal wave,” Lawrence Yun, the association’s chief economist, said in a telephone interview. “Large numbers of wealthy Chinese want to have property in the U.S. because they want to visit the U.S. and they want to diversify the wealth they accumulated in China to outside countries where they feel secure in their property rights.”


Article goes on to say 60% of purchases were CASH. This does seem a major factor in the rapid appreciation of big City Real Estate if not the the major factor.

R.
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