General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsForeign Real Estate Purchases Reach Record High
Have you noticed a sharp increase in rent and real estate over the last few years?
Turns out, one of the biggest reasons is foreign investment... especially from China.
The short explanation goes somthing like this: The chinese middle-class has realized buying real estate in china is an unstable investment. The solution? Buy up realestate in the US.
While the logic is sound, it makes realestate almost impossible for natives... particularly in places like washington, California and Oregon. Expect home ownership by native US people to plummet.
Might be a good idea to express frsutrations to governors and other political entities.
http://www.fortunebuilders.com/foreign-real-estate-purchases-reach-record-high-38016/
safeinOhio
(32,532 posts)sold the first day listed. Got way more than I expected. A young native US couple bought it.
Bubzer
(4,211 posts)should expect to spend considerable more than the house is worth.
safeinOhio
(32,532 posts)Downsized.