Skip to comments.Rather Shocking News About the Real Estate Market:
Posted on 02/13/2013 11:36:41 PM PST by Vinylly
We have a Chinese side to our family and have a brother- in-law and his wife who just came over from Peking for the Chinese New Year to visit relatives here, and also for business purposes. Seems his business in Peking is a venture capitalist. Apparently there are lots of wealthy business people in China that are buying up U.S. real estate. He is here representing a group of them and his job is to locate depressed real estate that he thinks has the best potential to take the most advantage of a new real estate boom if and when it does occure. Right now he and many other chinese are looking at Nevada. In fact they are buying up Nevada as fast as they can. So, I'm highly suspicious that if there is real estate improvement in Nevada, as well as other depressed states, it's not because our ecomomy is improving but because of foreign investers, including China, who are buying it up. This means that not only will China's wealthy citizens own a lot of our real estate but it's government is buying up Comrade o'Bummer's dept, will also own our country. A little scary, come to think of it, which means we could no longer own our own country, we will be owned by a communist country, lock stock and barrel. Since they own our government and country, seem they could make demands on how our government rules it's people, like do it our way or else we'll call in out dept, if not worse, like we could force you to do it our way. Since Comrade o'Bummer wants to weaken our military while China strengthens theirs, military force could happen. (Just my casual thoughts)
The Chinese will do a better job running the nation than the DNC ever did.
I’d rather see Al Qeda in the WH then the DNC.
With them we will know where we stand.
This is the same thing Japan did, back in the 80’s and it will likely work out to be just as successful in the end.
Teach your kids Mandarin.
Nevada, particlarly Las Vegas, makes a lot of sense since many Chinese love to gamble.
LOL. Had the exact same thought.
I’ve said for a number of years now that we should be learning Mandarin instead of Spanish. China is going to own a whole chunk of the United States and its assets, particularly when interest rates rise and we can no longer afford even the interest of our debt.
I remember all the claptrap about how effective and knowledgable the Japanese are, and America is finished!
Wow, did the Japanese real estate investors take a bath in the 1980s!
I want to point out to you that Chnina historically is not a nation prone to invade outside nations. They seem to be quite comfortable with their geopraphical space: from the China Sea to the Gobi desert, from Mongolia to Vietnam.
If you think about it. Rich people invest where they can get the best deal. The Chinese rich are not investing in their own country, because they obviously don’t believe that they can get a very good deal for themselves in their own country.
So they are going to try and make money in a country that the vast majority of them are almost totally ignorant about?
You can’t make money in real estate, if you do not have good knowledge about the area, it’s laws, it’s taxes, and the subtleties.
LOL! Yeah, but you're giving too much credit to the DNC because I know where they stand and it's NOT on our side.
Grams, I suggest you get a hold of a DVD documentary called the Money Masters. Great viewing, It explains how we could in just two years erase our debt.
You can find it on Ebay, or order it from:
By the way, the people behind BHO2 are the folks mentioned in the documentary. They’re interested in power and desire a Global Government with themselves in control.
China invades. They just do it differently. Their population will move into an area and gradually take it over.
They are invading Tibet, as we speak.
Take them out skeet shooting and get them a drivers license and vote in the next election.
Example, from 1993:
Japan is somewhere waay over that horizon.
Heard this about the Japanese in the 80’s.
Let em buy real estate. It’s not like they can take it anywhere and when they implode they’ll have to sell just like Japan.
Mean while, we get American dollars working and Americans working.
Send those Chinese buyers to Detroit or Camden. Real estate is going cheap there and will probably be great farm land in a few years.
I love that tree. I visit it every other month and take in the ocean.
Then I go to my favorite restaurant Portabello’s and have a great meal.
if China buys a lot here, then they want this country to remain strong economically...so they’ll keep buying our bonds and selling us cheap stuff...
Sales of existing homes going up but not new homes. Investors looking for bargains with all the foreclosures. It’s not just the Chinese.
Yes, but the Dalai Lama thinks highly of communism and they, the Chinese, literally live next door.
As for America, the Chinese know we have guns, they think we’re dirty and uncivilized, and worst of all - we live on the other side of an ocean!
OMG! I love Carmel-by-the-Sea. My favorite restaurant is Jack London’s Call of the Wild. They have the best hamburgers in the world!
I think it may have more to do with chinese investors getting out from under their communist government, and moving their cash offshore. Sound familiar?
Since Mao’s extreme communist regime, China now has 150 Billionaires and One Million MILLIONAIRES! China is practicing capitalism now. And Chinese real-estate is in a bubble. I know one party who bought a condo which tripled in 4 years! My own house was bought by a Chinese and he paid cash.
China already owns lot of our national debt, so they already own us. SO long as the seniors want their social & Medicare, China will own more of USA every year. Why not? They have worked hard for it.
“In fact they are buying up Nevada as fast as they can.”
After casinos, the main industry of Nevada is mining. And something like 85% of Nevada is federal land. China could do worse than invest some of Obama’s printed dollars in “the silver state”.
It’s not shocking, it’s not new and it’s not a problem.
Have a good day!
Not trying to be a smart ass but I know Jack London’s in Oakland and they are great!
Is there one in Carmel? I’m there once a month or so and don’t recall seeing it.
Dangit...Now I’m hungry.
Hamburger and some clam chowder sounds good right about now.
In fact, I think I’ll drive to Half Moon Bay tomorrow.
Thanks! Sounds like a great place. Next time in the area I will check it out.
Thanks I’ll do that.
I remember that very well.
I do Real Estate in Las Vegas. Pretty much live in the heart of China Town here. It may still be a market worth looking at.
Some of my regular favorites in the area are also...
The Fish Wife
(And others too numerous to list...)
Jack London’s is great.
Their prices have really climbed in the past few years, though...
The place is always packed, I like to sneak in for an early lunch once in a while.
It was a great place to visit when I was a teen and there weren’t so many tourists... we used to sit there and drink beer worry free... had the whole place to ourselves...
Goody! All we need is another housing crash to get rid of the commies. Great plan.
(1) Vegas is a natural draw for private investment from China because the Chinese love to gamble, with their gambling venue of Macao having a turnover that is much larger than Vegas;
(2) Chinese individuals buying up real estate in distressed tourism venues with private funds is of little concern in comparison to the Chinese government and business buying up key American enterprises and assets having national security implications;
(3) A substantial slice of private Chinese overseas investment is flight capital that reflects a lack of sound vehicles for savings in the domestic Chinese economy and concerns over and hedging as to China's future;
(4) The rapid growth of China's economy is beginning to wane due to: demographic factors; rising wages; competition from lower cost Asian nations; the "middle income trap" described by economists in which rising economies suffer a fall off in growth because they exhaust the gains that can be taken by applying cheap labor to manufacturing processes pioneered in the West; and structural issues like weak rule of law, corruption, severe pollution, excessive infrastructure investment, poor construction quality, dodgy accounting, and an overhang of bad lending in the domestic economy;
(5) In the 1980's, Japan's rise and a flood of Japanese investment in the US triggered concerns similar to those now expressed in regard to China, but Japan's economy has since stagnated, with China likely to go the same way, and;
(6) Two cousins of mine with much experience in Asia describe the current situation as being: the Chinese are fascinated with and admire America, with American goods seen as superior and more desirable than those produced in China; China's growth has peaked, but that of Viet Nam, a competitor, is on the rise; and Japan is a great place to live, while China remains a work in progress, with a quality of life and public manners that suffer badly in comparison -- observations confirmed in recent Wall Street Journal articles.
Maybe they'll arrive with an alternate agenda. Make them friends, make them family.
Within a generation we'll have top notch Americans just like the ones who already live here and prove the point daily.
Give me a hard working prosperous immigrant any day over someone who enrolls for government subsidies the moment their foot hits American soil.
A far as buying up real estate? At least someone wants it...lol!
China won’t even be able to afford anything in China in 20 years time.
At least they’re good at border security.
This is what we were worried about with the Japanese in the 1980’s. Watch Back to the Future II. It’s why Marty’s boss in the year 2015 was Japanese. And that was unheard of in the 1980’s.
2% of what you worry about happening actually happens. You are usually broadsided by something you never saw coming.
We should actually be encouraging foreign investment right now. The trade deficit gives count of our dollars going overseas each year. It is to our benefit to see those dollars re-invested in this country. We should immediately cut capital gains and corporate taxes. And even more importantly, we should allow companies who earned dollars overseas to move those dollars into the US tax free.
The Japanese got shafted on most of the deals.
Tell that to Tibet
or Korea for many centuries, or Japan after 2 unsuccessful attempts to invade one of which generated the term kamikaze, and wasn’t there a little border tiff with India within the past 50 years and with the USSR also....yeah ‘historically’ they haven’t invaded others... ok sure
They will also be paying property taxes funding schools, fire, EMS, libraries, hospitals. Without being able to vote.
I’d rather someone own the properties rather than the property sitting vacant.
Money never sleeps.
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