Chinese Buyers - Cheaper HousesArcadia Housing BubbleRowland Heights House Bubble UpdateWhy are so many Chinese buying US Real EstateBay Area real estate market bolstered by investments from China | Learning Chinese Language Materials for Kids

Chinese Buyers - Cheaper Houses

Chinese Home Buyer Update

Foreign buyers flood US real estate, but buy cheaper homes - CNBC

Median price per the article was $522,084 with a dollar volume of $27.3 Billion Dollars in the 12 months between April 2015 to March 2016. My guess is some areas just became too pricey, but the impact of devaluation.

Around Rowland Heights I am not seeing the huge amount of houses selling I was, the market seems to have died down a bit.

Labels: Chinese Housing, housing, rowland heights

Arcadia Housing Bubble

I wish my parents had moved to Arcadia, instead of Monrovia back in 1965. Wow! The prices are because of Chinese buyers. Arcadia has an excellent school district. I am surprised about this type of price, since you can get something in San Marino, which is slightly better school district.

The Southern California flipper epidemic: A market in the middle of crosswinds. What a $2+ million flip in Arcadia will get you.

Labels: arcadia, bubble, housing, real estate

Rowland Heights House Bubble Update

We just got a direct mail piece, saying how Ricky Li and his wife have been looking for a house with our floor plan for over a year with no luck. They are not going to repeat the mistakes that others made, so they have an all cash offer of 5% over the worth of our house.

Thoughts:

Suspicious that first name is close to my last name. And last name is close to my wife's. A fun psychological fact, you truth those more that have a name similar to yours. It may be coincidence, but...
Letter was a form letter mass mailed, in color. My guess is the mailing cost at least $1 per mailed piece.
It shows the Rowland Heights market is super hot.

Labels: bubble, housing, real estate, rowland heights

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.

Labels: housing, real estate, rowland heights

Bay Area real estate market bolstered by investments from China

Bay Area real estate market bolstered by investments from China - Silicon Valley

I am seeing the same thing in the Rowland Heights area. My understanding is China's government has made it much harder to do investments in China 2nd house, etc Prices in the Bay Area are up 22% from a year ago, with lots of all cash offers.

Labels: housing

Thursday, July 14, 2016