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Huge 36% Plunge In Foreign Buying of US Housing

By bill following x   2019 Jul 17, 3:27pm 334 views   5 comments   watch   nsfw   quote     share    


The Chinese Are Cutting Back on SF Bay Area Homes Purchases! What's to blame? I wanna blame Trump's "Let's-Start-a-Trade-War" + Strong Dollar + Difficult to get money out of China, etc. Canadians, people from India, U.K. and Mexican buyers (maybe Trump's WALL stopped 'em) also cut back purchasing US housing.

https://www.cnbc.com/2019/07/17/foreign-purchases-of-american-homes-plunge-36percent-as-chinese-buyers-flee.html
1   RC2006   ignore (1)   2019 Jul 17, 3:46pm   ↑ like (2)   ↓ dislike (0)   quote   flag        

This is great news.
2   Ceffer   ignore (2)   2019 Jul 17, 5:20pm   ↑ like (2)   ↓ dislike (0)   quote   flag        

Market peak. Investors try to capitalize profits, put out more inventory. More inventory=lower prices. Lower prices put the riskiest borrowers underwater. Underwater borrowers=more foreclosures. More foreclosures=lower prices and more inventory etc. etc.

There's one big mansion above my neighborhood that just went into foreclosure and was sold at auction. It's the second time for this home. It was in foreclosure at least once before at the first real estate crash. Santa Cruz for the past year has been dotted with more foreclosures.
3   everything   ignore (1)   2019 Jul 18, 7:00pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

I agree, market peaking up, I wonder how many foreigners are selling now.
4   Fortwaynemobile   ignore (1)   2019 Jul 18, 7:01pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Good for American families.
5   Blue   ignore (0)   2019 Jul 19, 9:40am   ↑ like (0)   ↓ dislike (0)   quote   flag        

This is part of the noise. Look for if the construction activity really picking up.

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