We changed blog hosts yesterday and lost a post and a couple of comments. But we should be 100% now! There may be some disruption on the mobile app but we are working on it.
Will Chinese investors – in turmoil at home – keep our coastal real estate markets afloat? Hat tip to Susie for sending this in from cnbc:
Turmoil in the Chinese stock market could have a quick and direct effect on U.S. housing. From newly built homes in Irvine, California, to Miami condos to Manhattan luxury towers, Chinese money has been flowing freely. The question now is, will trouble in the Chinese stock market translate into more or less cash coming into American neighborhoods?
“My conclusion on China is that those who are buying U.S. real estate are doing it with a very long-term view—to diversify their assets, provide a safe haven in case something happens at home,” said John Burns of California-based John Burns Real Estate Consulting. “I don’t think a 30 percent stock correction after a relatively recent 150 percent boom changes much of that. If you told me the economy was going negative, their shadow banking system was exploding, or the government clamped down on foreign investment, then I would be concerned.”