“The Japanese tried this trick, too. How’d they do?”
They bot at the (then) top, buying trophy properties out of hubris. The Chinese (in this case) would clearly be buying at semi-distressed prices, perhaps not the bottom. I’m not telling you that any Chinese buyer is going to walk in and snag a deal. I know of plenty of Chinese who bought small apartment buildings out of a belief that “it’s a way to build LT wealth” who will NEVER achive pos cashflow on them
yitbos