Seattle becomes No. 1 U.S. market for Chinese homebuyers (diversity, address)

[Scorpion3510]

Originally Posted by Minntoaz

This. Something is going to give in China and ripple throughout the Seattle housing market. It might take one, five or ten years but it will break.

We've been saying that here in the Bay area for quite some time...

[noah]

I've been watching the West Seattle market pretty closely, especially below $600k and am seeing a fair amount of price reductions and homes that would have gone the first week two months ago that just aren't selling quickly. Granted, not the price point the Chinese typically want but still interesting.

[leastprime]

Just wondering, the Apt/condo buildings going up in QA & Belltown, how many are purchased by out-of-towners, by pied-a-terres, by resident aliens, or by Chinese for their anchor babies?

May be there is subrental for us?

[bellevue123]

Mostly apartments not condos, so they can't be purchased. As with the entire market, the demand is from Amazon employees far more than the Chinese.

[harrishawke]

Well the San Francisco Bay Area and Southern California has already been saturated with Asian bought up real estate, it's not surprising the next logical choice was the Pacific Northwest. I actually don't think this is a good thing and no one is going to stop it. Basically home ownership will be less attainable, and people will be forced to pay ever rising rent. Wealth creation will be much harder, even for people working in white collar high tech jobs. Homelessness will increase too.

[StealthRabbit]

There are still plenty of Chinese buyers remaining after they bought up Thailand, Singapore, Malaysia, New Zealand, and Australia....

Recently attended a Perth, Australia traveling High School concert in Venice. Of 90 student performers, there were 3 Caucasians. Perth is NOT immigration central! you should see Sydney! (or Queenstown or Auckland... Arrowtown, NZ!!!)

Global market indeed with serious funding capability (cash works well).

[Pretzelogik]

https://www.besmartee.com/blog/chine...-in-california Not only here but there also.

[flyingsaucermom]

Originally Posted by noah

I've been watching the West Seattle market pretty closely, especially below $600k and am seeing a fair amount of price reductions and homes that would have gone the first week two months ago that just aren't selling quickly. Granted, not the price point the Chinese typically want but still interesting.

Inventory moves slower as we get closer to the end of the year. We have a few in my neighborhood that have been on the market for nearly a month, but they're 2 bedroom/priced high. All the well-priced SFH or 3 bedroom anything is still moving quickly... but I don't know what they're selling for... maybe they're still going for 25k over or maybe they're going for listing price or lower.. I really don't follow the sale prices as much as the flow of inventory.

My mom says I missed my "calling" as a real estate agent. LOL.. no, thank you..

[tickyul]

So beautiful and gorgeous.......I am so proud of my hometown, go Seattle!!!

There is a LOT of Asian investors all over the world, not just Chinese, who have a great deal of money to put into real-estate. With some luck, a large percentage of these asian investment-dollars will go into Seattle's gloriously-hot real-estate market.

It's great for the RE-markets and it is even greater to have this surge in ownership-diversity....even if the new owners are out-of-state/out-of-country investors. More people-of-color having a stake in Seattle, makes me feel like Seattle is fulfilling it's destiny as a thriving area, with lots of diversity!!!!!

[flyingsaucermom]

Originally Posted by tickyul

So beautiful and gorgeous.......I am so proud of my hometown, go Seattle!!!

There is a LOT of Asian investors all over the world, not just Chinese, who have a great deal of money to put into real-estate. With some luck, a large percentage of these asian investment-dollars will go into Seattle's gloriously-hot real-estate market.

It's great for the RE-markets and it is even greater to have this surge in ownership-diversity....even if the new owners are out-of-state/out-of-country investors. More people-of-color having a stake in Seattle, makes me feel like Seattle is fulfilling it's destiny as a thriving area, with lots of diversity!!!!!

You repeat the same stupid line over and over again and haven't addressed any of the concerns.

Very annoying!!!!