Thread: Chinese Seeking Housing Bargains — in California

Chinese Seeking Housing Bargains — in California

Real estate speculators from China are looking for bargains in, of all places, Southern California — because housing there is actually cheaper than in major Chinese cities.

These bargain hunters from mainland China make up the newest Chinese exports to the U.S. — landlords, according to National Public Radio.

Home values in the cosmopolitan cities of Beijing and Shanghai haven’t slipped as much as they have in California. So cash-rich Chinese are buying tour-group packages that include trips aboard luxury buses destined for developments with unsold new homes or significant numbers of foreclosed houses.

NPR followed one group of Chinese looking at new homes in Corona, Calif., a suburb about 40 miles from downtown Los Angeles. Many want to buy properties to rent to Americans.

A Chinese lawyer named Ying looked at a home with a $400,000 price tag and said, “In Beijing, a house like this, this far away from the city center, wouldn’t be as cheap as this house.â€

They just need to keep going further south,plenty of low cost there to buy Im sure.

And I thought FL real estate prices were insane! And I am sure Americans will be pleased to pay rent to support the Communist Chinese, if we even get told the real ownership of Jack's Investments is the Chinese.
None of this will end well for America.

The high house prices in China are correct, it's because they have four times more people than us!

Also in the San Gabriel area of Southern California, which has a high percentage of Chinese immigrants, the house prices have not fallen very much, not nearly as much as the rest of California.