53% of Chinese purchases were in California, and they also mention that getting money out of China is relatively easy. One sales guy said, “One way or another, property prices will still go up”. From cnnmoney.com
http://money.cnn.com/video/news/2013/08/09/n-chinese-homebuyers.cnnmoney/index.html
I have three neighbors who are native Russian, Korean, and Chinese (doesn’t speak English). They are all very nice and very cosiderate.
The neverending story. Back in the 90’s we were touring new custom homes in Bel Air and all we kept hearing about was how much money the Chinese were spending. It’s the truth, but it’s nothing new.
Can individual states like California regulate purchases by foreign investors to prevent another bubble? (As a California homeowner, these foreign investors are limiting my ability to buy up.)
Overseas buyers have never been enough to move the needle here, one way or the other.