Are Chinese real estate buyers getting visas to move here easily? (Redding: real estate market, 2013)

[Podo944]

Why are Chinese buying California real estate? | Redding Homes Blog

Okay so Chinese people aren't scrambling to buy up Redding according to reddinghomesblog...

However, the video in the article has a man in China saying how he bought a house in California, is renting it out and then plans to move here in 5 years.

My question pertains to visas and the ability to just move over here.

Do we have a special relationship with China that people can just buy a property and move over here when they want?

Sorry for sounding dumb on this, but just curious... thanks!

[BeauCharles]

Its some investor's green card thing - EB-5 immigrant investor visa. All they have to do is invest 500k in a business and create ten jobs and they can immigrate. There are only 10,000 of these a year, but the rich Chinese are flooding the program (they went from basically nothing ten years ago to 90% of the applicants now).

[Podo944]

Originally Posted by BeauCharles

Its some investor's green card thing - EB-5 immigrant investor visa. All they have to do is invest 500k in a business and create ten jobs and they can immigrate. There are only 10,000 of these a year, but the rich Chinese are flooding the program (they went from basically nothing ten years ago to 90% of the applicants now).

Whoa! Okay that makes sense then...

Thanks!

[crouching_tiger]

Yeah the rich Chinese are desperate to GTHO of China by any means necessary. They are moving to US, Canada, England, Ireland, Germany, Australia, New Zealand heck even to countries in Africa, South America and the Middle East.

So much for the next superpower.

[k81689]

It reminds me years ago, Jpanese was doing the same thing. There was even a rumor that Japanese was buying Bank of America(barely survived at that time.)

Remember, Chinese owns a lot of our PAPERs. Yes, papers.
They have to spend those papers and change them to something real&solid.
Now we get to sell them something real&solid.

[beb0p]

Look, let's do the math here. China has 1.3 Billion people. Their 1%er total around 13 million people.

If only 1% of those 1%er wants to move to the USA, that's still 130,000 people. Even if you allocate all of the available slots to nobody but the Chinese, it will still take about 13 years to clear the pipeline.

Looking at the bigger picture, I see a very small fraction Chinese who actually wants to buy here. But, their scale is so enormous that the 0.01% of the population is still a large number to us and can drastically change the market.
.

[Podo944]

Originally Posted by crouching_tiger

Yeah the rich Chinese are desperate to GTHO of China by any means necessary. They are moving to US, Canada, England, Ireland, Germany, Australia, New Zealand heck even to countries in Africa, South America and the Middle East.

So much for the next superpower.

Okay, so not only do they want to "park their money", they want to actually move out of China? How come?
Do they fear the government (I'm sorry I haven't kept up... is it still a communist government over there?) will take their money to run the country or something?

[Chuck5000]

Mainland Chinese who can afford it (i.e. millionaires) want to buy US (and other countries') real estate because it is perceived as a safe haven for their money; in China there are limitations on how much property you can buy, and also there is uncertainty about the security of savings. Also, many want the potential exit to the USA, and they prize outstanding public school districts and proximity to top universities.

Overall it's a drop in the bucket in the US real estate market, but this does have a real effect in certain locations, e.g. Palo Alto.

[Heidi60]

The Bay Area culture has totally changed because of the high foreign influx. Anyone thinking it is no big deal should think again.

[Tulemutt]

Originally Posted by Heidi60

The Bay Area culture has totally changed because of the high foreign influx. Anyone thinking it is no big deal should think again.

Change? Oh Noes!