world business news: Chinese Buyers Snapping Up U.s. Real Estate

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Chinese Buyers Snapping Up U.s. Real Estate Rate Topic:

#1 ? The Masked Tulip?

Group: Members
Posts: 31,654
Joined: 23-August 04

Posted Yesterday, 11:15 AM

Same thing to happen here as the Pound tanks?

http://live.wsj.com/...6A-1A00D72E51D0

The success or failure of your deeds does not add up to the sum of your life. Your spirit cannot be weighed. Judge yourself by the intention of your actions and by the strength you faced the challenges that have stood in your way.

The people closest to you have been trying to tell you that you have made a difference. That you did change things for the better. The Universe is vast and we are so small. There is really only one thing that we can ever truly control - whether we are good or evil.

The political triumph of the American Right has been to advance relentlessly the economic interests of the country's richest people, while emphasising a swath of moral, social and foreign policy issues that motivate and certainly distract middle-class and poor voters.

#2 ? Mrs Bear?

Group: Members
Posts: 3,825
Joined: 07-April 08

Posted Yesterday, 11:28 AM

View Post The Masked Tulip, on 27 February 2013 - 11:15 AM, said:

Isn't it happening already? Particularly shiny newbuild flats - I gather they're not much interested in older property unless it's prime or super-prime.

#3 ? Bloo Loo?

Group: Members
Posts: 46,060
Joined: 27-August 07

Posted Yesterday, 11:35 AM

estate agent says business is booming.

with 10m houses for sale, I think the Yanks had better get borrowing and buying...just in case they miss the boat...course the chinese will be blissfully unaware that legal title to millions of US properties is blighted by the bankers MIRS fiasco.

^WARNINGYour
country is at risk
if you
do not keep up repayments
on a gilt or other loan secured on it

#4 ? Venger?

Group: Members
Posts: 2,766
Joined: 28-January 08

Posted Yesterday, 12:14 PM

View Post Mrs Bear, on 27 February 2013 - 11:28 AM, said:

Isn't it happening already? Particularly shiny newbuild flats - I gather they're not much interested in older property unless it's prime or super-prime.

It has already significantly happened, in the boom years, and desperate stimulus years.

The more interesting question I think is whether the foreign owners who already own in UK, with the pound sliding a bit, the prospects going forward, together with fragile weak growth, will jolt more foreigners into putting their UK homes on the market.

If so, more supply onto market, perhaps with more motivated sellers... and remaining foreign wealth not already committed facing stamp duty changes, with choice of investing in many other countries as well, including the USA. The resulting sentiment change were that to occur likely to be felt keenly.

Quote

The Smith Institute estimated that 60% of homes in central London were bought by overseas investors in the first half of 2011. Figures from Jones Lang LaSalle suggested that only 19% of central London developments during an unspecified time period were bought by British people.

This extends beyond the so-called prime postcodes, where stereotypes of Russian oligarchs come to mind. According to Jones Lang LaSalle, many of those buyers were snapping up one- and two-bed homes in new developments across London, often without even looking at the property, propping up the market where first-time buyers are priced out.

Foreign buyers are one part of a bigger picture of under-occupation in London. The 2011 census revealed that there are an astonishing 229,803 second homes in London, many of which will be owned by British residents. Put very crudely, that is seven times the mayor's annual housebuilding target.

http://www.guardian....vestors-housing

#5 ? ToughEgg?

Group: New Members
Posts: 60
Joined: 16-January 11

Posted Yesterday, 12:55 PM

#6 ? Bruce Banner?

Group: Members
Posts: 10,628
Joined: 15-December 07

Posted Yesterday, 12:57 PM

View Post The Masked Tulip, on 27 February 2013 - 11:15 AM, said:

Let's hope so. The less properties owned by "hard working families", when the music stops, the better.

See Below:

It looks to me like there is a massive coordinated attempt by the various VIs to engineer a spring bounce by press releases and trolling popular Internet forums such as this.

Following the reported 1.9% monthly rise from a government controlled lender and the (expected) 0.5% rate cut, this forum seems to be targeted by bulls, many joining in the last few day to talk up the market.

The general drift seems to be... 'Savings accounts are paying a pittance so get into property now and pick up a bargain'.

I wonder if the various EA and lenders associations are emailing their members, suggesting that joining this forum to talk up the market would be a good idea.

Note: The above was posted in late January 2009, the following is updated as and when required.

#7 ? wherebee?

Group: Members
Posts: 894
Joined: 05-May 10

Posted Yesterday, 01:34 PM

What amazes me in that in the US, UK, and Australia foreigners are allowed to buy property with very little difficulty. Try that in China or any country with a half decent idea of how the world works, and you will soon be given short shift.

And yet the voters do not seem to care....

There is always death and taxes; however, death doesn't get worse every year.....

my predictions for H1 2012 were:
UK Houseprices vary by +/-5% in GDP, but fall another 20% in currencies that hold their value, such as AUD, CHF !TICK!
1 or more countries exit the Euro by end June 2012 !LOSE!
Riots/civil unrest cause +10 deaths in european countries !TICK!
gold reaches $2000 by end June 2012 !LOSE!

predictions for H2 2012:
UK national houseprice average down by -10% in GDP on YOY average !TICK!
1+ more round of QE in UK, 1 more round of helicoptering in US !TICK!
Obama win in US elections !TICK!
gold reaches $2300 by end December 2012 !LOSE!

predictions for H1 2013
UK national houseprice average stays steady by +-3% in GBP
1+ more round of QE in UK, 1+ more round of helicoptering in US !TICK!
IPCC issues some statements that 'global warming' is in a hiatus period, but will come back, oh yes
gold reaches $2000 by end June 2013

#8 ? okaycuckoo?

Group: Members
Posts: 6,163
Joined: 24-June 07

Posted Yesterday, 04:33 PM

Beware! There was a fuss in Canada a couple of weeks ago about EAs posing as Chinese buyers to big-up the Vancouver market.

There was a TV expose etc. and the ultimate point is that domestic buyers drive the market, not outsiders.

Reference to it from a Chinese news source here:
http://vreaa.wordpre...falling-prices/

They think everyone's stupid, but that's not really true.

The bankers rubbed their palms together, and the economy went up in flames."If the government is big enough to give you everything you want, it is big enough to take away everything you have." Gerald Ford.

#9 ? SeeYouNextTuesday?

Group: Members
Posts: 9,145
Joined: 21-July 06

Posted Yesterday, 04:53 PM

?okaycuckoo, on 27 February 2013 - 04:33 PM, said:

Beware! There was a fuss in Canada a couple of weeks ago about EAs posing as Chinese buyers to big-up the Vancouver market.

There was a TV expose etc. and the ultimate point is that domestic buyers drive the market, not outsiders.

Reference to it from a Chinese news source here:
http://vreaa.wordpre...falling-prices/

They think everyone's stupid, but that's not really true.

http://www.greaterfo...he-myth-of-ham/

View Post JustYield, on 30 September 2006 - 02:00 PM, said:

View Post Zanu Bob, on 21 September 2012 - 09:00 AM, said:

love is getting a cup of tea with yer morning hand job everything else is noise.

#10 ? Sledgehead?

Group: Members
Posts: 10,850
Joined: 17-August 04

Posted Yesterday, 06:28 PM

Seen it all b4. Mum was looking to sell her childhood home in Bath in the early / mid nineties. Her brother kept holding out for the rich Hong Kongese flocking to the London market. When the ink had finally dried on the handover documents in 97 her brother capitulated - having ridden the bear right to the bottom with not one member of the former colony expressing even the slightest interest.

Bubble Thinking & The Wisdom of the Property Bulls (click the pink arrow to see it in full!):

QUOTE(BTLlondon @ Jun 13 2005)

QUOTE(nodumsunreader @ Aug 10 2005, 03:48 PM)

QUOTE(TheLittleGuy @ Aug 13 2005, 02:16 PM)

#11 ? wherebee?

Group: Members
Posts: 894
Joined: 05-May 10

Posted Today, 12:32 AM

View Post Sledgehead, on 27 February 2013 - 06:28 PM, said:

If it is all a myth, why is my postbox in Hong Kong full EVERY DAY with multiple flyers for London property? Why is the South China Morning Post printing large, half and full page adverts EVERY DAY for London property? Why have I seen dozens and dozens of small offshore companies owned by mainland Chinese owning property in Australia and the UK? Why, when I lived in Australia, of the 15 houses in my street, I knew of 4 that were owned by Chinese or Singaporeans (didn't know about the rest), of which two lived in and two were rented out.

Some myth.

This post has been edited by wherebee: Today, 12:32 AM

There is always death and taxes; however, death doesn't get worse every year.....

#12 ? interestrateripoff?

Group: Members
Posts: 37,571
Joined: 24-June 08

Posted Today, 08:14 AM

Will they get visa's to live there?

#13 ? SHERWICK?

Group: Members
Posts: 8,697
Joined: 28-December 04

Posted Today, 08:19 AM

?Mrs Bear, on 27 February 2013 - 11:28 AM, said:

I gather they're not much interested in older property unless it's prime or super-prime.

The mighty neo liberal steam roller that crushed all before it from the 1980s to the beginning of the new millennium has morphed in recent years into a Charlie Carioli clown car that now can not go two yards without loud bangs, smoke pouring out of the engine and the doors dropping off. (by stormymonday_2011, posted amidst the Barclays Libor crisis on 02/07/2012)

Polster: why did you vote labour?
Labour voter: because I hate Margaret Thatcher
Polster: how old were you when she left Downing st?
Labour voter: 3
(by Robo1968, posted 10/05/2010)

From BBC HYS 15/05/2009:
"Last year, my MP's second home claim was ?5,000 more than my total salary and now I find out that he's trying to charge me for cleaning his swimming pool!"

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