Not to mention condos. You go downtown, you'll see condominium buildings with maybe one light on per floor. We have a homeless problem, but we have buildings that are nearly entirely foreign-owned and that almost nobody lives in.
I used to work for the most successful property purchase group in Canada. The entire staff but the head was Chinese. 100% of the clients were Chinese. They were buying EVERYTHING, not just condos. Wineries, mines, farms, etc. Everything with a property.
As much as one-third of all Canadian property is now Chinese owned and none of the citizens living there have a fucking idea.
Many wealthy Chinese want to expatriate their capital out of China. Turns out even they don’t like communism. It’s an investment vehicle to get money out of China. Problem is that it distorts our markets, and the CCP can claim ownership at any time (because no private property for Chinese citizen)
Imagine going around putting up a small "Owned by China" sign... nothing else on it, just pointing out the thing you aren't supposed to notice. The screeching would be INTENSE.
The entire US realty industry has been compicit in this widespread disenfranchisement of the average citizen from access to decent, non-bubble housing. The Chinese buy single family homes, condos, and rent them out by the bedroom to stressed out, broke, US citizens.
One of the reasons CA home prices have skyrocketed, and even rode out 2008 fairly well, is that uber wealthy Chinese are buying houses as investment instruments in the attempt to hold off loses due to inflation.
Yup, houses are being bought by Chinese we can tell by the addresses used to purchase. These are just lying empty, nice houses in nice neighborhoods too. I think the master plan is to run up the value (mainly due to supply shortages) and sell it back to us at rediculously high prices.
Chinese investors own half the bloody country.
Not to mention condos. You go downtown, you'll see condominium buildings with maybe one light on per floor. We have a homeless problem, but we have buildings that are nearly entirely foreign-owned and that almost nobody lives in.
I used to work for the most successful property purchase group in Canada. The entire staff but the head was Chinese. 100% of the clients were Chinese. They were buying EVERYTHING, not just condos. Wineries, mines, farms, etc. Everything with a property.
As much as one-third of all Canadian property is now Chinese owned and none of the citizens living there have a fucking idea.
Many wealthy Chinese want to expatriate their capital out of China. Turns out even they don’t like communism. It’s an investment vehicle to get money out of China. Problem is that it distorts our markets, and the CCP can claim ownership at any time (because no private property for Chinese citizen)
Imagine going around putting up a small "Owned by China" sign... nothing else on it, just pointing out the thing you aren't supposed to notice. The screeching would be INTENSE.
The entire US realty industry has been compicit in this widespread disenfranchisement of the average citizen from access to decent, non-bubble housing. The Chinese buy single family homes, condos, and rent them out by the bedroom to stressed out, broke, US citizens.
Holy fuck
And you worked there? Did it make you feel bad that you were helping China to do this?
One of the reasons CA home prices have skyrocketed, and even rode out 2008 fairly well, is that uber wealthy Chinese are buying houses as investment instruments in the attempt to hold off loses due to inflation.
Yup, houses are being bought by Chinese we can tell by the addresses used to purchase. These are just lying empty, nice houses in nice neighborhoods too. I think the master plan is to run up the value (mainly due to supply shortages) and sell it back to us at rediculously high prices.
End foriegn ownership of U.S. housing!
It is the same in NYC. To correct this, will require most US homeowners to end up underwater by hundreds of thousands of dollars.
Bought with money stole from the American middle class
A gift, not from We The People, but from US POTUS from 41- 44 in collusion with literally every "American" multinational corporation!