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Many Chinese think Detroit housing is a great investment
Digital Journal ^ | July 25, 2013 | Ken Hanly

Posted on 07/28/2013 9:16:43 AM PDT by kevcol

Sina Finance reports that since the bankruptcy on July 18 was announced, the Chinese website Sina Weibo has been all abuzz about how properties can be picked up for a pittance. Caroline Chen, a real estate broker in Troy, Michigan, claims to have received numerous calls from people in China. Chen says that some people have called and said they want to buy 100 to 200 properties. She said that a colleague recently sold 30 properties to a Chinese buyer. The buyer said we don't need to see the properties just pick the good ones.

(Excerpt) Read more at digitaljournal.com ...


TOPICS: Business/Economy; Culture/Society; US: Michigan
KEYWORDS: chapter9; china; detroit; michigan; realestate; rosemaryaquillina
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To: taildragger

There is quite a pool of knowledge in the Detroit area. It was only a couple of years ago that a new flash hardening process for steel was developed by a Detroit area metallurgist.

The Detroit brothers custom cycle builders had a short lived TV show were they brought in local guys to build things like a corn harvesting combine from a pickup truck. The show was a knock off of monster garage but they concentrated on local knowledge to do the stuff.


41 posted on 07/28/2013 10:29:02 AM PDT by cripplecreek (REMEMBER THE RIVER RAISIN!)
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To: kevcol

I think they would have to buy huge swaths of land, blocks and blocks. Then demolish everything. That would help push the crime out. Knowing the Chinese, they would then reinvent the whole area, taking advantage of Detroit as the continents second largest port city. I hope they do it.


42 posted on 07/28/2013 10:30:40 AM PDT by floridavoter2
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To: kevcol

I think I know why they are buying it:
http://www.youtube.com/watch?v=bVDDYQlmq0w


43 posted on 07/28/2013 10:31:51 AM PDT by GenXteacher (You have chosen dishonor to avoid war; you shall have war also.)
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To: gr8eman
What am I implying? well 1st...

* LNG powered tankers bring Ore and Tar Sands in from the UP and Canada to Detwaa
* A new bridge to facilitate Trade on the 2nd busiest boarder crossing
* Access to I-75 South, a little drive and you are headed to Chicago in I-94
* A huge waterfront, industrial and if the cards are played right may assets like Belle Isle that could be housing and tourist magnets.
* A financially ruined city, holding the whole state back Finally gets services that will make it liveable.
* Some of the best Medicine and Hospitals in the Nation in Michigan, many in Detroit.

I may not be implying anything, but maybe these Chinese Investors are either crazy or naive, or they are crazy like a Fox like those that bought Ford Stock in early 2009 when it was @ in the low single digits per share...

44 posted on 07/28/2013 10:32:38 AM PDT by taildragger (The E-GOP won't know what hit them, The Party of Reagan is almost here, hang tight folks.....th)
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To: Beagle8U
They better buy homes all in the same area and plan to defend it like a frontier fort!

Well, they did build a wall a while back to keep the other guys out... Maybe that's the plan this time too.

45 posted on 07/28/2013 10:36:54 AM PDT by Bernard (The Road To Hell is not paved with good results.)
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To: gr8eman
Do you seriously think the gubmint of Detroit would let anyone prosper?

It's a tough road but they are metaphorically being brought to the barn to have gender modification surgery performed and will be geldings soon. Look @ all that went to jail from Kawame's Administration, the Council is down in numbers, many are refusing to run again, they will soon be chosen from districts not at large, and Orr and his team are trying to clean up the rest.

Again it is not easy, but they are trying to take the fun out of Dysfunctional, and that is a big step...

46 posted on 07/28/2013 10:38:35 AM PDT by taildragger (The E-GOP won't know what hit them, The Party of Reagan is almost here, hang tight folks.....th)
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To: Vince Ferrer

>>Its very hard to describe Detroit and the political situation, and the crime, to someone who is not an American.

I can well imagine that to be so, and would suggest that the main reason is an almost complete lack of forthright, honest public discussion and debate on racial issues in society for at least the last 30-40 years.


47 posted on 07/28/2013 10:39:18 AM PDT by FreedomPoster (Islam delenda est)
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To: moviefan8

They catch somewhat of a break in that they aren’t as likely to be accused of “hate crimes” for defending themselves and their properties in Detroit, for what that’s worth.


48 posted on 07/28/2013 10:42:34 AM PDT by mrsmel (One Who Can See)
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To: gr8eman

They will drive people and crime out. Thus, take over the city.

The government of Detroit will be Chinese, so there will be no problem.

By buying up property, they will move their people in. People vote and pay taxes. They will complain about the crime and then bring in others to protect them until they have complete control of the city.


49 posted on 07/28/2013 10:45:58 AM PDT by moviefan8
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To: moviefan8
The Chinese are smart.

First there was white flight, now there will be black flight, followed by muslin flight, followed by whites moving back in.

It's all gooooood.

50 posted on 07/28/2013 10:51:35 AM PDT by Slyfox (Without the Right to Life, all other rights are meaningless.)
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To: a fool in paradise

There are visas for those who invest X amount of money here, ranging from millions to hundreds of thousands. They may be buying property in the hope to qualify for the investment visas. Or expecting eminent domain to reimburse them at least the purchase price if not more in the future.


51 posted on 07/28/2013 10:54:31 AM PDT by tbw2
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To: moviefan8

The corrupt democrat machine would never allow Chinese to take over Detroit.

It would take millions of Chinese to overcome the voter fraud...200% plus voter turnout in Detroit, all voting for the most socialist candidates.

How they gonna get millions of Chinese into Detroit? illegal Chinese aliens maybe? The feds would suddenly get the urge to enforce immigration laws.

There is no way to save Detroit...conservatives would somehow magically have to take over all the positions of power to start a turn around of that hell hole. It would take a lot of tough love! Dems don’t appreciate tough love.


52 posted on 07/28/2013 11:00:23 AM PDT by Bobalu (It is not obama we are fighting, it is the media.)
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To: PGR88

“While they have poor neighborhoods for sure, they have no concept of random street crime and violence in places like Detroit.”

They also know nothing about political correctness. And when they do learn the realities of cities like Detroit, I bet the Chinese will not hesitate to do whatever it takes to put a stop to it.

They certainly have enough dollars to make it happen. At least the cops know they’ll get paid.


53 posted on 07/28/2013 11:28:25 AM PDT by MichaelCorleone (Jesus Christ is not a religion. He's the Truth.)
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To: cripplecreek

“Detroit is still a major port city and the second busiest freight crossing on the continent”

China owns the ports on America’sEast and West Coast. Now they’re going for the inland ports.


54 posted on 07/28/2013 11:30:23 AM PDT by stars & stripes forever
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To: cripplecreek

“Detroit is still a major port city and the second busiest freight crossing on the continent”

The Chinese owns America’s east and west seaports. Now they’re going for the inland ports.


55 posted on 07/28/2013 11:37:32 AM PDT by stars & stripes forever
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To: kevcol

We chanj New Fallujah to New Beijinj!


56 posted on 07/28/2013 12:07:08 PM PDT by MIchaelTArchangel (Have a wonderful day!)
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To: Mercat

***Rush was talking about buying the whole town and naming it Limbaughville.***

Del Webb should buy some waterfront acreage for a retirement community with golf courses, casinos and clubs.

Rush should buy some for farmland - cattle and crops.

The Chinese should buy the factories and ports for manufacturing.

The Property Brothers, Scott MacIlivray and Mike Holmes should buy all the residential real-estate and rehab it.

Almost like rebuilding Japan after Nagasaki and Hiroshima bombings.


57 posted on 07/28/2013 12:12:25 PM PDT by sodpoodle (Life is prickly - carry tweezers.)
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To: kevcol; All

Although Americans probably have no money to invest in the first place, I think that the Chinese probably understand the return on investment of sweat equity with respect to investing in fixer-uppers better than Americans do.


58 posted on 07/28/2013 12:46:14 PM PDT by Amendment10
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To: Amendment10

until their fixer upper gets torched


59 posted on 07/28/2013 12:51:36 PM PDT by GeronL
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To: GeronL; All
until their fixer upper gets torched I suspect that the Chinese know to deal with such things.
60 posted on 07/28/2013 1:04:41 PM PDT by Amendment10
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