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Where I live in Seattle, one reason for the high cost is Chinese cash buyers snapping up real estate to move their assets out of the country. China's authorita
by joshuaheard 8y ago
Where I live in Seattle, one reason for the high cost is Chinese cash buyers snapping up real estate to move their assets out of the country.
China's authoritarian government's policy is world domination, and I don't think we should be helping them.
- StudentStuff 8y agoIgnore our highly restrictive zoning for the majority of the city, and the booming giants we have from Boeing to Amazon crowding the region. Many of the people I grew up with have moved from Capitol Hill, Ballard & West Seattle to Marysville, Tacoma and Issaquah due to the housing crisis pricing them out of the city. Condo complexes are practically never built due to our state liability laws, and the only apartments being built are premium units, as once you deal with the zoning requirements and end up with 20% of your building's floor space getting lopped off, that is the only thing that can profitably be built.
- joshuaheard 8y agoSeattle does have many other housing problems. However, I was outbid by all-cash Chinese buyers in Bellevue and Sammamish, as well, when looking for a house.
- StudentStuff 8y agoHave you looked at the zoning code in Bellevue or Sammamish? Its likely much worse than Seattle's, I know Kent's zoning is positively wretched, mandating that more than half of any commercially zoned property be paved for parking. How can you have density when you zone it away?
- Latteland 8y agoI have heard rumors of Chinese people buying up real estate, but I have never seen it in Bellevue. i live on a street with expensive homes, only 1 out of say 30 around me is owned by a person who appears to be of Chinese descent. Where is the evidence for this?
- coliveira 8y agoChina is doing a great job in spreading the wealth. I support this.