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Regarding Chinese capital coming in, there's a sense that they're not doing it to invest for a profit. They're doing it protect funds from the Chinese governme
by white-flame 10y ago
Regarding Chinese capital coming in, there's a sense that they're not doing it to invest for a profit. They're doing it protect funds from the Chinese government access and potential future instability. So it might not matter to many of these "investors" if they houses are profitable or not; they're just funds being held in something perceived as more real/secure than what they can get in China.
- niels_olson 10y agoAnd the Chinese government is not happy about it. They are actively pushing banks to not allow their citizens to get mortgages. I have a colleague whose family pushed her pretty hard to accept and hold hundreds of thousands of dollars so her cousin could buy a house with it. She found the situations quite distressing. Apparently her father, in China, was not happy.