Chinese investment in U.S. real estate could hit $50 billion by 2025, according to a report by the Rosen Consulting Group and the Asia Society. In San Francisco Bay-area locations, home prices have risen by double digits in the past three years, while the number of buyers from China has nearly doubled since 2012, says Penelope Huang, a broker with Re/Max Distinctive Properties. The increased demand is making the area one of the toughest for younger buyers, she says. “Listings are snapped up in a week or sometimes less in this market,” she says. “That kind of pace of sales directly affects first-time buyers.”
In New York City, Chinese investors are increasingly gobbling up property. In middle-class areas of Brooklyn and Queens, the number of Chinese buyers has nearly">
Chapter One: Massive Trade Deficits are the Major Cause of Inequality in America (5) Series Info | Table of Contents
margin-right:0in">Chinese investment in U.S. real estate could hit $50 billion by 2025, according to a report by the Rosen Consulting Group and the Asia Society. In San Francisco Bay-area locations, home prices have risen by double digits in the past three years, while the number of buyers from China has nearly doubled since 2012, says Penelope Huang, a broker with Re/Max Distinctive Properties. The increased demand is making the area one of the toughest for younger buyers, she says. “Listings are snapped up in a week or sometimes less in this market,” she says. “That kind of pace of sales directly affects first-time buyers.”
In New York City, Chinese investors are increasingly gobbling up property. In middle-class areas of Brooklyn and Queens, the number of Chinese buyers has nearly...