In the 12-month period ending March 2015, buyers from China have for the first time ever surpassed Canadians as the top foreign buyers, plowing $28.6 billion into US homes, at an average price of $831,800, according to the NAR. In dollar terms, Chinese buyers accounted for 27.5% of the $104 billion that foreign buyers spent on US homes. It spawned a whole industry of specialized Chinese-American brokers.


Chinese money contributed to the last Price spike too, just less directly. If I'm not mistaken, Chinese were some of the biggest buyers of mortgage backed securities. There was a lot of commentary at that time about how Greenspan made a huge blunder keeping rates so low for so long after the dot com and 9/11 economic downturns. It encourages too much money to be put into speculation, since there was none to be made in treasuries and the like. So much for learning that lesson.

posted by kleinbl00: 1392 days ago