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Tuesday, January 29, 2013

Why are so many Chinese buying US Real Estate

Chinese buying in the US seems to have a couple of factors. My guesses:

1. Safe haven for money, especially money that is a bit hot. If it stayed in China, it may get confiscated if the owner is found guilty of corruption. It's amazing how much money is flowing out of China, when officially there is strict limits on getting money out. There is also a bit of getting the spouse and kids into the US and Canada, just in case things get worse in China.

2. Houses for kids going to US colleges. UCI for example.

3. Restrictions on buying a 2nd / multiple houses in China
http://online.wsj.com/article/SB10001424052702304911104576445513471134364.html

4. Perhaps US real estate now is seen as less of a bubble than Chinese real estate.

5. Prestige of buying a house in the US.

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