
Chinese all-cash buyers of U.S. homes have tripled - SQL2219
http://www.marketwatch.com/story/chinese-all-cash-buyers-of-us-homes-have-tripled-since-2005-2015-10-09
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MrQuincle
The other article also published yesterday,
[http://www.marketwatch.com/story/the-danger-of-foreign-
buyer...](http://www.marketwatch.com/story/the-danger-of-foreign-buyers-
gobbling-up-american-homes-2015-10-08) makes it look very grim. However, is
there data available, or is there statistics on the economic disaster for the
average American that is sketched here? It's one thing to not to have poor
immigrants. It's another thing if you also not want to have rich immigrants...
(That is, if these people are actually living part of the year in their
homes).

There is also a lot of political room to improve the situation for the average
American. If the super-rich in America become all Chinese, progressive tax
reforms might accelerate. This in itself might start to bridge the gap between
the rich and the average Americans.

Also, homes don't just sit there. People live in it, do their groceries,
repair work, go out. There is additional money pumped into the economy by rich
people living in it. Money they otherwise would spend in China.

Moreover, it is possible to build more houses. :-) I don't think the US is
such a crowded place that we've to worry about space.

These are all speculative mechanisms at work... Some scientific studies are
definitely necessary here.

~~~
venomsnake
> It's another thing if you also not want to have rich immigrants... (That is,
> if these people are actually living part of the year in their homes).

Rich immigrants that obtained their wealth trough shady means. It works
wonders for the Londoners - the average guy is so much better there since the
city began to be oligarch's playground.

Probably for a lot of people not shaking things that work too much is a good
thing.

And inflated prices in illiquid marked tend to create very painful corrections
once shit hits the fan.

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SQL2219
Our Midwest workplace recently hired a developer from California who could not
afford to buy a house. He said competition from all cash buyers made it very
difficult.

