Otilia - Bilionera (official video)
It is official Chinese buyers have left the U S housing market.
Night The New York Times wrote a gargantuan piece titled 3800 words Chinese species Floods US real estate market discuss the impact of Chinese buyers in the US housing market There are just two problems with the New York Times Herculean effort i it is 5 years behind covering this site subject of extensive discussions since 2010, and ii is false.
Recall that we expect in our decision on a post-devaluation of China in early September, with Beijing now actively cracking down on hot money outflows and institute draconian capital controls, two things would happen Bitcoin - as the newest preferred mechanism to circumvent China's capital controls - it did invade, and China's investment in real estate would fall sea.
Because while the New York Times wrote a real US floods species article entitled Chinese real estate market should have been published in 2010, the WSJ is out with a much more precise piece entitled opposite the room NYT namely Chinese Pull Back from US property investment how Chinese buyers are no longer the marginal buyer of top US housing range.
Here, as we predicted, is a summary of the state of the US housing market and one of the key pillars of support is not there.
Crowning a real estate frenzy of five years, Chinese nationals have exceeded Canadian snowbirds that major foreign buyers of US homes for the year that ended in March the latest annual data gathering all 500,000 condos in New Jersey 3 million vacation homes in California at 13 million Manhattan condo.
But in recent weeks, some Chinese buyers have started to withdraw, frightened by the massive sale of shares in the China market, the slowdown in economic growth, currency devaluation and tighter restrictions on capital outflows on Friday, the benchmark stock index in China fell 5 5, its biggest daily slide since August, the Beijing authorities stepped up repression against the securities industry.
Yang Bin, a businessman aged 38 in Beijing, said the economic downturn has fueled his desire to buy a house in Silicon Valley, I see many problems with Chinese universities, and the environment air quality here aren t very satisfying, M. Yang said with a budget of about 1 million, he said he wanted to buy a house that her child now aged 8, one day after.
For now, M. Yang is caught in the dilemma raised by the Chinese economy, which, he said, has increased my desire to buy a home in the U S but also forces me to wait and watch more carefully.
We are ready to embrace a winter to Chinese buyers in the next year, two years, said Daniel Chang, a broker based in New York City Sotheby's International Realty M. Chang, who sells property to 2 million 10 million to- beach, said almost half of the clients served by her staff are Chinese.
It also means the end of odious, realty scripted TV shows on millionaire real estate agents.
Christina Shaw, a Realtor with Re Max Fine Homes in Newport Beach, California said a client who was given a budget of 10 million to buy two homes in the area now trying to reduce its budget by about a third.
A butterfly flaps its wings in selling the house Shanghai Composite and luxury in plummeting US.
The interest of Chinese buyers went dark for several weeks after the Becan their stocks slump, said Tom Mitchell, president and COO of Tri Point Group, a home builder in Irvine, the main stock index in California China, the Shanghai composite index, was down 38 since peaking in June
If it seems like there are only two months when we wrote that 80 of all new home buyers are in Irvine Chinese, it is because this is the case, however, the Chinese buying frenzy is more present buyers Chinese foreign represent about 30 customers in a handful of developments in society in the orange County and the San Francisco price increases there, he said, prompted customers to pause and reflect .
Chinese buyers are now officially spooked Zhang Xin, CEO of SOHO China Ltd. a developer, said last month it wouldn t buy now real estate overseas because many cities abroad too Dear.
Some hope the lull in Chinese buying will be short-term consultants and real estate brokers say that the decline is temporary Many consider probably Chinese American real estate not only as a good investment, but as a refuge for savings some Chinese buyers also listed a US address would make it easier for their children to enroll in an American college.
In the very short term, there will be an impact for people who don t have a stream of foreign income or n not have a bank account or funds in banks abroad, said Frank Chen, CEO and head of research at property consultancy CBRE China, but the trend of outward investment property should remain fairly strong.
Maybe for now, however, the US luxury market is about to get in free fall, as the marginal buyer enters hibernation.
Even a temporary setback could affect markets where Chinese buyers are targeting some of the most expensive US homes often pay cash The average purchase price of existing homes in the United States by foreign buyers in the year ended in March was was nearly 500,000, almost double the price for all buyers, according to the national Association of realtors One third of Chinese purchases were concentrated in California for the year ended in March, according to the national Association of agents real estate, drawn by Washington, DC with 8 purchases, and New York, 7 hours.
Some manufacturers could also feel the effects The CEO of Walnut, California, Shea Homes -Based Bert Selva, told investors this month that the company has experienced a significant slowdown of Chinese buyers in Orange County.
The buyer is drying really to be honest, I do not think that's a bad thing, because I think there was a lot of frenzy driven thereby pushing up prices a little, he said during a conference call.
We doubt Bert share the same feeling on the collapse of sales of his company.
To return to the New York Times is terribly wrong with his report, this is why they are, as we said, about 5 years late.
Chinese residents have begun to buy US homes in large numbers there are about five years, mainly through increased wealth and desire to protect economies against political instability, brokers and economists.
American households looked like a bargain after the real estate crash, drawing busloads of Chinese buyers to view properties in California and Manhattan For many, it seemed a gold mine everywhere, said Calvin Lo, a real estate agent Berkshire Hathaway HomeServices in southern California.
Raising this mine Bitcoin because unless the Chinese find a way to get billions using the only available method left, the American luxury real estate market is looking for what may be plummeting unprecedented.
Chinese individuals are limited to annual foreign investment equal to about 50,000 For years, the Chinese have exceeded this limit, in part, by channeling money through parents and employees last month, the government has made it difficult to transfer money abroad, said the real estate brokers in both countries.
It is as barbarians at the gate, said John Chang, a real estate broker with Re Max New York Chinese families want to buy, he said, but they can not get the money.
Of course, paris on a return to the US luxury market may be better to buy just the way that the Chinese use to channel funds to the United States - Bitcoin, which a quick check shows resumed its ascent and again jumped about 20 in the last week alone.
Finally, our condolences to the Fed that Chinese buyers in the United States leave the luxury accommodation in double time, shows that the bottom falls from the housing, and first slowly and then very quickly drag the rest of the market more low, forcing the Fed to undo any tightening in monetary conditions, it may be launched or plans.
Chinese launderers snap up real estate Vancouver because of border laws lenient, loose regulations.
Police sent China secretly investigate officials suspected of money laundering in Canada, where they are believed to have invested a huge amount in real estate.
officials of the city of Vancouver and the police have refused to comment on the Fox Hunt operation, which was initially described by Xinhua as a Chinese crackdown on suspected corrupt officials who have fled abroad.
It is a bit dated, but since the Canadian gubmint made a list of every foreign Chinese RE operating in Canada and the USA is the compilation of the same they will confiscate tax.
Who knows, however, I doubt the PRC will forget those Trillions.
You did not read the article HERE BEFORE POSTING glaring.
What's worse is that three others did not even Catch this it is obvious that the more they do NOT READ ARTICLE IN IT POINTS IN THE NARRATIVE Schism.
You are the TWIT NARCISSISTIC IDENTIFIED They NARCISSISTIC unidentified SELF IMPORTANT twits.
They think their arrows mean something they do communicate a message, it's just not what they think.
It is much importamt that your ignorance is exposed rather than read the article and, perhaps, learn something.
I wish the waterfalls whole economy down over your head so that your children are starving but it will matter if you starve yourself Other than that, it's just not a big deal , to the right.
It s official Chinese buyers have left the U, officials, Chinese buyers.