July 11th, 2013
The amount of all cash offers being made across the country is deep into record territory.? Once again, the real estate market is crawling into?unchartered waters here.? We all know about the flood of money coming from hungry?Wall Street investors?ravenously chasing yields in the rental game.? What about foreign money floating into the market?? Data on this is hard to come by but anecdotally we know that money from China is flooding into California.? How much?? Hard to say but some good data was recently released regarding the buying habits of foreigners.? Some will remember when?Japan lived through their boom?and money flooded into California then as well.? The big difference this time is that China has more than 1.3 billion people versus 127 million for Japan.? In other words, the potential for a high volume of activity is now starting to be seen in dramatic fashion.
Chinese purchases focused on prestige locations
One of the most interesting figures regarding international demand is with the typical amount spent on a purchase:
http://www.doctorhousingbubble.com/chinese-real-estate-buying-china-housing-california-purchases/
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