From Yahoo finance: China’s investors find safe haven in American real estate
Commercial real estate isn’t the only type of property seeing large inflows of Chinese money. The country’s investors have also been active in the residential realty. They bought $28.6 billion in American residences, accounting for 28% of all foreign purchases by dollar volume, according to data from the National Association of Realtors. The homes they acquired tended to be on the luxury side; the average house in the U.S. sold for $255,600 but Chinese buyers spent on average $831,800 for their American homes.
What happened to the post-America era the left predicted in 2008 and 2009 would happen? So much for that.
As emerging markets suffer from low inflation-adjusted growth, high inflation, falling currencies, corruption, and divestment, and the left whines about wealth inequality and capitalism being dead – rich, high-IQ foreign investors cannot get enough of America and its most valuable real estate. Foreign applicants are inundating America’s fastest growing tech companies as well as Americas most prestigious institutions of higher learning. The left constantly criticizes America, but the rest of the world apparently cant get enough of America, and this probably makes the left irritated that the rest of the world isn’t sharing their post-America vision.
Related: Wealthy foreigners bought $100 billion in US real estate