Chinese view property through the very different lenses of the Chinese property market. While they have poor neighborhoods for sure, they have no concept of random street crime and violence in places like Detroit. They also are utterly clueless about the racial politics of places like Detroit and how crippling that is in American politics and economy.
Finally, they do not know property taxes, which, as of yet, do not exist in china.
Finally, they do not know property taxes, which, as of yet, do not exist in china.
They will get charged more property tax on these properties than they are worth - what a dumb investment. Also, the city codes can come along and condemn them so they will have to get them up to code or tear them down. It costs about 10k to tear them down - lead paint and other environmental deficiencies. If they get them up to code there are few good tenants to rent to and thieves will vandalize and scrap the house.
If they tear them down they will still have to pay property taxes on the bare land and hire a service to maintain the property.
These folks are in for a rude awakening!
“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.
Yeah, but if enough Chinese moved to Detroit the crime rates would drop... there wouldn't be much 'random street crime' because the Chinese are civilized... Then they would elect leaders who were intelligent and hard working and the city would turn around ..