Chinese people are taking home buying tours through the US and they are buying.
We buy Chinese products, massive amounts of treasury bonds are held by China, and now the infrastructure itself is next.
McClatchy: Chinese find opportunity in U.S. real-estate slump
Luo Jie, a tour organizer for those wanting to buy U.S. property, concurred: "You can buy a much better home in America for $400,000 or $500,000 than you can buy here." Luo pulled out a promotional folder written in Mandarin with numerous listings of foreclosed U.S. properties in Los Angeles, San Francisco, Las Vegas, Boston and New York.
3 comments:
WTF? This is a real sign of how far and fast we've plummeted. Twenty yrs. ago if I told u the Chinese would be bargain hunting for homes in America in 2009, you'd laughed in my face.
We are being groomed to be the new servant class for when people come to America to retire into the houses that we once could afford.
We allowed allowed this by putting in pols that sold us out. Free trade equaled de-industrialization. Mergers equaled less staff and less competition. The trade off was a few more billionaires and millions without jobs.
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