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I have to ask: is something going on regarding real estate and Chinese investors in SF or California ? It's not the first time I read hints about it on HN.
by johnchristopher 11y ago
I have to ask: is something going on regarding real estate and Chinese investors in SF or California ? It's not the first time I read hints about it on HN.
- chucksmash 11y agoOverseas investors buying up property in NYC as a way to park money comes up as well.
- eru 11y agoIt's also common in London.
- rconti 11y agoYes? They've been buying property for some time now. Not just in the US, but in Canada (Vancouver in particular). Same with Russians buying property in the UK. I'm not sure what you found controversial or surprising in the parent comment, though I haven't read the article because holy dense TLDR.
- Spooky23 11y agoCapital is fleeing places like China and is being converted to real estate assets. Real estate is seen as more secure than Chinese currency, and it's easy to transfer real estate while remaining fairly anonymous and avoiding money laundering laws.
- tomcam 11y agoYes. Also Vancouver & Northern Cal. Have Chinese family & am involved in a fair amount of real estate. For reasons I don't quite understand, real estate people are too polite to say that the vast majority of cash transactions in some areas such as Vancouver, Seattle, and Silicon Valley are from China (and Russian in other areas).
- johnchristopher 11y agoThanks everyone, I am not living in the US so I am not really up to date with local real estate realities.