Headwinds at Home Causing Pause in Chinese Buying
This past year, Chinese buyers overtook Canadian buyers as the top foreign purchasers of US real estates with expenditures of $28.6 billion. The influence has been felt disproportionately at the top end of the housing market and in submarkets catering to this segment such as the City of Irvine and the San Gabriel Valley region of Southern California. However, anecdotal evidence from the trenches indicate that this trend may be slowing, for now, owing to a number of factors including the Chinese stock market sell-off, a slowing Chinese economy, the currency devaluation and tightened restrictions on capital outflows. Adding to these domestic issues has been the run-up in prices at the top end of the US housing market.
About author
You might also like
Net Outward Migration from Los Angeles County to Orange County
In the last blog on recent trends in homebuyer mobility we found that high housing prices in two Northern California counties (San Francisco and Alameda) had been a principal cause
Home Ownership Wanes in California
Our state’s housing crisis increases homelessness, costs people jobs and lengthens commutes, all serious problems. On the most basic level, though, what the shortage of affordable housing does is deny
California Housing Markets are Starting to Stall
According to data compiled by the California Association of Realtors, California’s housing markets are showing signs of stalling.
