Revealed: 15 key US states where Chinese
citizens are buying $6B of property after
being banned by other countries for pushing
up house prices as Ron DeSantis calls
it a 'huge problem'
Daily Mail (UK),
by
Alyssa Guzman
Original Article
Posted By: Imright,
7/27/2022 8:20:39 PM
California and New York are the most popular of 15 US states where Chinese buyers are purchasing property after other countries forced them out for driving up the housing market.
Chinese investors bought $6.1billion worth of property in the US between April 2021 to April 2022, a report by The National Association of Realtors (NAR) revealed.
Florida ties with Indiana for the third hottest pick with the Chinese. Florida Governor Ron DeSantis, 43, called a 'huge problem.'
'I don't think they should be able to do it. I think the problem is these companies have ties to the CCP, and it's not always apparent
Reply 1 - Posted by:
downnout 7/27/2022 8:27:13 PM (No. 1230509)
So ban them from buying property.
20 people like this.
Reply 2 - Posted by:
formerNYer 7/27/2022 8:29:34 PM (No. 1230512)
Exactly #1, take some of that money earmarked to save Ukraine and buy it all back for what they purchase it for, not a penny more. If they balk confiscate that land as a National Security issue.
15 people like this.
Reply 3 - Posted by:
Rich323 7/27/2022 8:46:48 PM (No. 1230535)
Vey want to see Ricky Mouse and Walt Risney world.
8 people like this.
Reply 4 - Posted by:
BarryNo 7/27/2022 9:01:22 PM (No. 1230543)
American territory purchased by foreign entities DOES Not acquire the protections accorded an embassy. Legislative set boundaries, retroactively, to limit usage or even confiscate such properties that are used to harm American interests.
9 people like this.
Reply 5 - Posted by:
PostAway 7/27/2022 10:12:47 PM (No. 1230581)
This has been going on for decades on the West Coast and it has helped drive housing costs into the stratosphere. When my husband and I were looking for a house in the East Bay we went into a few $1M+ houses that were new builds and already owned by Chinese people (in China) who built them or bought them brand new and were selling (flipping) them at a significant profit to Americans who lived and worked in the area. This was 20 years ago. Twenty years before that we rented a property in a little less expensive area of Contra Costa County from a Pakistani owner who owned three other properties in the state of California and rented all of them. My husband and I were young parents, both frugal people working in professions, he had served in the military for over 10 years but, although we had previously owned a home in the Midwest, we couldn’t afford to buy in a good school district in the Bay Area so we wound up renting from foreign nationals. This is wrong. If we can ask our young people to serve and protect the country is it too much to ask that the beneficiaries of their sacrifice be their fellow countrymen and not their enemies? And that those who have served can afford to buy housing in their own country?
7 people like this.
Reply 6 - Posted by:
Highlander 7/27/2022 11:50:35 PM (No. 1230630)
There’s always nationalization.
1 person likes this.
Reply 7 - Posted by:
msjena 7/28/2022 9:37:38 AM (No. 1230941)
Why are we allowing this? If they are Chinese nationals and not legal immigrants, Congress could ban them from buying property here,
4 people like this.
Reply 8 - Posted by:
Corndoggies 7/28/2022 10:49:50 AM (No. 1231030)
As a Hoosier I’m surprised to see Indiana tied with Florida in property purchases. I’m surrounded by farm land and I didn’t see what types of property are being purchased. I’m off to do an internet deep dive.
0 people like this.
Reply 9 - Posted by:
earlybird 7/28/2022 11:15:35 AM (No. 1231065)
Chinese running from CCP oppression began coming here in the 1980s. On a train fromTsingtao to Shanghai, our compartment mate was a lovely man from Hongkong. He had already “evacuated” his wife and children to Vancouver and was planning his own evacuation to either Vancouver or the United States.
They came with money. For a time they could get a green card if they invested more than $500,000 in a business that employed more than 10 persons. They bought nice houses and take good care of them. Their children go to special schools to learn English (those require payment; they go after regular school hours). The library is full of Chinese kids after school, studying. They are law abiding.
Perhaps some may have CCP sympathies but based upon what our Chnese friend and the English speaking Chinese guides we met in China has to say, the desire to escape was very strong.
Why would you ban them from buying homes, businesses? Are the people who escape and come here a threat?
1 person likes this.
Reply 10 - Posted by:
earlybird 7/28/2022 11:22:34 AM (No. 1231072)
Re #5, housing sticker shock must have really hit mid-Westerners, but don’t blame the Chinese. I am a California native. California has always been a desirable place. Millionaires flocked here. The present Tournament of Roses House in Pasadena was originally a home belonging to millionaire Wrigley. The same is true of the Huntington Library and Gardens in Pasadena. Henry Huntington.
As for the Bay Area, that has always been sky high. And Silicon Valley tech industries are what drove up the surrounding areas and the East Bay.
I am surprised that someone as knowledgeable as DeSantis is blaming Florida home prices on the Chinese ...
1 person likes this.
In Oklahoma, the Chinese are buying up farms. They pay well over market price and show up to closings with literal grocery bags of cash. They build marijuana grow houses on the property and get a state resident to file for a shell company to get the required licenses. The workers are all Chinese nationals, many undocumented. The marijuana doesn’t make its way to state dispensaries, but is sold out of state where grass is still illegal at a greater profit than they could make selling in state.
0 people like this.
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