Original post made
on Oct 9, 2013
This story contains 352 words.
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This was happening during last year's presidential campaign about a non-existent 'recovery' that is still NOT happening. Most houses 6-16 months ago in Foothill and other 'good' neighborhoods were bought by Chinese throughout Bay Area...with CASH. Many cash deals were sight unseen but handled by friends & family here... as investments. Investments in China are not as secure. It is now starting to slow here. Government of Singapore purchased the Claremont Hotel about 8 months ago for investment.. They want a safe place to park money.
Sadly it creates a phony picture of our no-job, no middle-class, non-recovery. Middle-class housing market is not recovering in many areas as a whole.
Ummmm.... this is really old news.
Money is all that is needed to buy what you want. If a property is for sale and you have enough money, you can buy it.
We (USA)outsourced (and continue to outsource) our jobs overseas + we buy the products which are manufactured overseas. It only makes sense that buyers overseas, has more money in which to buy properties in the USA. Even the parent company of Yahoo is owned by a company in China.
The US gov has failed us, by making outsource a viable option for US based companies. We lost jobs, many people were forced to obtain lower paying jobs and even more had to sell/bail out of homes and become renters (BTW- I would not be surprised if some people, above landlords were not based overseas)
Some of you say, people who lost jobs should go back to school and or get re-trained. Yes makes sense, but the gov makes it easier for people overseas to go to school here and more difficult for naturalized citizens.
Any student of American history is most likely fascinated by the ever increasing number of Asians into America.
It's a wonderful opportunity for all Americans to welcome our Asian neighbors.
Asians have a very rich and ancient history. I say it's time to learn!
Open your doors and hearts Americans!
[Portion removed.] There are many middle and upper-middle Americans who are suffering, and there is NO sign of any recovery for them, or buyers or fair selling prices for their homes, or jobs to keep their homes themselves. IF there were jobs for Americans, we could support our own housing market.
Meanwhile Chinese are buying the high-end. Do not let that mislead you to believe the US housing market is 'recovering'...it's not recovering any more than the job market is recovering. It's not happening.
William Tell, unless one is Native American, we all have roots from another country! If you want to exclude Chinese, do you also want to exclude rich White people of European descent who may buy expensive real estate here?