Can someone post a link thats not behind a paywall please
sure thing. https://archive.is/g4PKD
Chinese Buyers Replace Canadians as Top Foreign Buyers of U.S. Homes
11–20 of 35 posts
Re: Chinese Buyers Replace Canadians as Top Foreign Buyers of U.S. Homes
#12This whole thing almost rhymes with the Japs buying up lots of choice properties in New York, California, and Hawaii before their bubble burst back around 1990. They were more into commercial properties and golf courses, held by corporations rather than individuals, though.
Not trying to derail from your point, which is valid and a good observation, but I wanted to let you know that "Japs" is considered a derogatory term these days. It's simply fixed by saying "the Japanese" or "Japanese citizens"
For a overview of this topic, check out https://en.wikipedia.org/wiki/Jap
Re: Chinese Buyers Replace Canadians as Top Foreign Buyers of U.S. Homes
#13Earlier quoted context omitted.
yep a lot of the property is brought as a safe guard against the the day when the mob starts hanging people from lampposts. Also I suspect lack of trust in the local stockmarket might have something to do with it.
> yep a lot of the property is brought as a safe guard against the the day when the mob starts hanging people from lampposts. Do you have any evidence to back that up or are you just making it up? I'd personally be surprised if it has even crossed the mind of some of them. More likely, the Chinese are buying US properties because they are cheap and can be rented for profit.
Not saying there will be a mob but the Chinese stock market is heating up to the point where companies are stopping manufacturing and using their assets to buy stocks instead.
And the level of unserviced debt is getting high, but the central bank prefers to have the lenders rolling it over rather than letting defaults be triggered.
So buying property abroad would make sense for those Chinese who can afford it in terms of diversifying their investments as well as having a back door out of the country if it things go sour.
https://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web...
Re: Chinese Buyers Replace Canadians as Top Foreign Buyers of U.S. Homes
#14Re: Chinese Buyers Replace Canadians as Top Foreign Buyers of U.S. Homes
#15It's interesting to note that China's capital controls make it illegal for any Chinese national to purchase greater than $50,000 in foreign currency per year without explicit government approval, and thus many of these purchases require illegal asset transfers and money laundering (although some domestic banks offer legally murky services [1])
Popular methods methods include Macau casinos and high-end art.[2][3]
By some estimates, between $1 trillion and $4 trillion in untraced assets have left China since 2000.[4]
Chinese buyers are also the largest group of foreign investors in residential property in the UK and Australia.[5]
[1] http://www.scmp.com/business/banking-finance/article/1550351...
[2] http://money.cnn.com/2014/02/20/news/economy/china-art-laund...
[3] http://qz.com/19712/how-chinas-elite-illicitly-move-their-mo...
[4] http://www.icij.org/offshore/leaked-records-reveal-offshore-...
[5] http://www.ft.com/cms/s/0/fcc2d346-bcd3-11e4-9902-00144feab7...
Re: Chinese Buyers Replace Canadians as Top Foreign Buyers of U.S. Homes
#16Earlier quoted context omitted.
> yep a lot of the property is brought as a safe guard against the the day when the mob starts hanging people from lampposts. Do you have any evidence to back that up or are you just making it up? I'd personally be surprised if it has even crossed the mind of some of them. More likely, the Chinese are buying US properties because they are cheap and can be rented for profit.
Not saying there will be a mob but the Chinese stock market is heating up to the point where companies are stopping manufacturing and using their assets to buy stocks instead. And the level of unserviced debt is getting high, but the central bank prefers to have the lenders rolling it over rather than letting defaults be triggered. So buying property abroad would make sense for those Chinese who can afford it in term…
Agreed. I guess I might have taken parent's comment too literally. I'm just tired to see the inevitable and often gratuitous China-bashing in those types of submissions.
Re: Chinese Buyers Replace Canadians as Top Foreign Buyers of U.S. Homes
#17This story is playing out all over the world. A while ago, the Chinese figured out that by pegging their money to the USD they could simply print more money, pay people more, and their citizens would flourish. It's a great strategy if you're an up and coming solution. Unfortunately, the ending has played out before. Crash and burn. With the burn part being a bloody conflict or war.
Time for China's own class of corporate criminals to get outta Dodge before the 粪 hits the 风扇. It's so much easier to cook the books when the economy is hot, but when money gets tight, there's no hiding place. I predict addresses of new US homes will contain at least one number 8.
Also, it helps America. The middle class can't buy homes any more, so it's nice we can import a new group of rich people. That way we can keep playing games in the real estate and mortgage markets.
Re: Chinese Buyers Replace Canadians as Top Foreign Buyers of U.S. Homes
#18This whole thing almost rhymes with the Japs buying up lots of choice properties in New York, California, and Hawaii before their bubble burst back around 1990. They were more into commercial properties and golf courses, held by corporations rather than individuals, though.
Not trying to derail from your point, which is valid and a good observation, but I wanted to let you know that "Japs" is considered a derogatory term these days. It's simply fixed by saying "the Japanese" or "Japanese citizens" For a overview of this topic, check out https://en.wikipedia.org/wiki/Jap
It's no more derogatory than Yanks. If people are losing sleep over that term they probably need to find a new cause to be offended over for all the people who don't care.
Re: Chinese Buyers Replace Canadians as Top Foreign Buyers of U.S. Homes
#19Can someone post a link thats not behind a paywall please
If you believe as I do that paywall'd articles do not belong on a news aggregator, the Flag option is at your disposal.
Re: Chinese Buyers Replace Canadians as Top Foreign Buyers of U.S. Homes
#20Can someone post a link thats not behind a paywall please
Another option / the "traditional WSJ paywall sidestep" is to google the headline (copy and paste it from the paywalled article, e.g.) and then visit it from the google results.