Land Grab: Rich Chinese are snapping up America's real estate.
Chinese buying was up more than 70% to $22 billion -- nearly 1 in 4 dollars of all foreign purchases, according to the National Association of Realtors.
Canadians are actually No. 1 in terms of total homes bought, but the Chinese buy much more expensive homes: An average price of $591,000.
The Chinese also bring a lot of cash to the table: More than three-quarters of their purchases were all-cash buys.
California is the biggest market for the Chinese, accounting for a third of their purchases.
Washington State, however, is coming up quickly, accounting for 9% of buys. It's followed by New York, Pennsylvania and Texas.
ref:
http://money.cnn.com/2014/07/08/real_es ... Stories%29
Do I have an issue with this....YES!
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Re: Do I have an issue with this....YES!
If you think about it,this is the perfect way to destroy everything "American". Kinda like having 51% stake in a company. If half the nations in the UN were to invest in the US and over a period of time purchase key states or a majority of the US,what would stop them from imposing UN regulations and treaties on their land. Divide and conquer.
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Re: Do I have an issue with this....YES!
Let them buy it and then we will use imminent domain. ROFL
Buy American, the job you save just might be your own.
Re: Do I have an issue with this....YES!
I like the way you think E...