2020 Feb 10, 7:52pm
1,126 views 12 comments
Chinese investor pull out of US housing market? Still need to get the cash out of China, and may even need a place to get away from the virus,
but I don't think Chinese foreigners own more than 5% of US residential real estate
AD saysbut I don't think Chinese foreigners own more than 5% of US residential real estateIt might not be as simple as that. I know people from China living and working (legally) here in silicon valley that pool money from friends and family in China to buy places here. That's a type of "foreign buyers" that wouldn't really count in your 5% statistics. But, that would dry up if China clamps down harder on money transfers. It would also slow housing speculation is people in China were more concerned about the short-term problems of corona virus; but that, at least, would resume when the pandemic subsides.
Housing naturally does not offer the liquidity for a panic / quick sale.
Even if Chinese stop speculating on Bay Area housing and house prices drop in half, houses will still be extremely expensive / overpriced.