As foreign buyers pour billions of dollars into the U.S.’s luxury real estate market, the federal government is, for the first time, taking steps to learn the identities of buyers who pay cash for high-end real estate using shell companies.
Rigidly relying on the demand for housing reflects an unpromising future of the market. Real estate has always been dominated by the rich.
People believe the economy is improving as long as they see the housing prices increasing, the automobile market flourishing, and see packed restaurants, regardless of the accelerating deterioration of the environment, food safety, income disparity, and price inflation.
The Chinese phrase “Surrounded by Chu songs” is probably the best way to express the current state of Mainland China’s real estate market. It derives from the battle of Gaixia where the 100,000-strong army of the prominent Chu warlord, Xiang…
Foreigners are being rented out in Mainland China for varying “roles” to help flagging real estate developments boost sales, and it’s an odd sight. Watch the above video and you’ll see what I mean.
Arcadia, California, is nicknamed “the Chinese Beverly Hills.” Real estate agent Peggy Fong Chen makes a living selling expensive real estate in Arcadia, mostly to buyers from Mainland China.
In July the National Association of Realtors said there was a big surge in foreigners buying U.S. properties over the past year.
The rate that Chinese couples divorce recently skyrocketed in Beijing and Shanghai, China’s two most affluent cities, after announcements over increased property taxes.