[brucerby]

This foreign buying is just one more example of the greatest strength of our system:
Our politically STABLE country.

Wealth will always flow to this country as long as the
rest of the world sees us as the most stable democracy.

Investors feel their property and their property rights will not
be suddenly withdraw or limited or their property confiscated.

The same cannot be said for large parts of the globe.

So, this foreign investing is good for Las Vegas and good for America.

[eventusstultorummagister]

Originally Posted by brucerby

This foreign buying is just one more example of the greatest strength of our system:
Our politically STABLE country.

Wealth will always flow to this country as long as the
rest of the world sees us as the most stable democracy.

Investors feel their property and their property rights will not
be suddenly withdraw or limited or their property confiscated.

The same cannot be said for large parts of the globe.

So, this foreign investing is good for Las Vegas and good for America.

No denying that it is good from an economic standpoint, it's the fact that there is zero reciprocity that does not sit well with me.

[Kevin98103]

Originally Posted by NLVgal

I may become a renter myself. I've been a homeowner for over a decade now, and I don't care for it. Something is always breaking or needing maintenance and I don't have the patience, time, or talent to fix everything myself.

Not all renters are bad. The old folks that have lived across the street from me for ten years are renters. That property seems to be in great shape.

We rented when I was growing up because we moved a lot ( Dad's job) and it was always a pride point for my Mom that we left a place in better shape than we found it.

I don't think being a renter or home owner has anything to do with whether a person is good or bad, hopefully you don't either Even economically speaking it doesn't always make sense. If say, one person bought their house with almost no down payment, high interest loan, and at such a high price that their equity is nill, and their disposable income is too low to spend into the community, much less upgrade or even maintain their home. Is that better off to the local economy or themselves than someone who rents something they can easily afford from someone else who lives in the community and might even have it paid off? I know what you mean about repairs, this is my third house and sometimes I feel like all we do is repair houses for other people.

Originally Posted by binionrat

Most of our B.C. high-end real estate has now been sold to Hong Kong and the population of Asians are just spreading out, mostly southwest to Seattle and will continue to move into Washington, California, and Nevada. I heard both penthouse suites at the top of Soho Loft on Charleston were bought by an Asian doctor from Vancouver area and will be combined to make one big penthouse. It took us quite a bit to come up with the cash to buy our little East LV condo but somehow Asians readily are able to buy 2 and 3 millions dollar homes in Vancouver and Richmond. Where they get all that money I'd love to know.
Just a few stats from our area i pulled out of a local demographic blog.

More than one-third (36.1 percent) of immigrants to the City of Vancouver, BC between 2001 and 2006 came from the People's Republic of China. The city of Vancouver (distinct from the Metropolitan region) is roughly 50 per cent Asian, including Chinese, Filipino, Vietnamese and South Asian. The suburb of Richmond is more than 60 per cent ethnic Asian, mostly Chinese, according to the 2006 Canadian census.

Thanks for the numbers, but as to where the money comes from? Reportedly what I spoke of earlier, mainland China. Currently, mainland Chinese are restricted from direct international investment, but their relatives or friends or associates in HK or elesewhere are not. So that's why you have so many HK owners of McMansions inhabited by mainland Chinese (who in reality all share ownership), and why they are built with so many bedrooms, filling the lot without much yard. Your numbers reflect that. While it always seemed a bit strange to me for a place like Richmond BC, such arrangements would make sense in Las Vegas. But the People's Rep of China is supposed to be considering changing those restrictions, so who knows what it will look like when direct investment is allowed? I just hope the network has been established and the investment keeps flowing

[LVNVTrucker]

Originally Posted by eventusstultorummagister

A Chinese man walks into a bank in LAS VEGAS and asks for the loan officer. He tells the loan officer that he is going to China on business for two weeks and needs to borrow $5,000.
The bank officer tells him that the bank will need some form of security for the loan, so the Chinese man hands over the keys of his new Ferrari parked on the street in front of the bank. He produces the title and everything checks out.
The loan officer agrees to accept the car as collateral for the loan.
The bank’s president and its officers all enjoy a good laugh at the Chinese man for using a $250,000 Ferrari as collateral against a $5,000 loan. An employee of the bank then drives the Ferrari into the bank’s underground garage and parks it there.
Two weeks later, the Chinese man returns, repays the $5,000 and the interest, which comes to $15.41. The loan officer says, “Sir, we are very happy to have had your business, and this transaction has worked out very nicely, but we are a little puzzled. While you were away, we checked you out and found that you are a multi-millionaire. What puzzles us is, why would you bother to borrow $5,000?”
The Chinese man replies: “Where else in LAS VEGAS can I park my car for two weeks for only $15.41 and expect it to be there when I return?”

LOL, actually my landlord is from Taiwan China (speaks perfect English and went to school at UNLV & UC Irvine) and his wife was from Hong Kong China (not so good English but you can understand her chopped up communication), so far they have been the nicest people, always glad to see you, (of course always glader to see your rent money), and have never had any problems getting the few things fixed or any requests made of them. They live in Mountain Edge and own 12 houses or so here in the SW valley. I was reluctant at first to rent from the Chinese, but knock on wood, my experience so far has been A-OK.

[SportyandMisty]

Originally Posted by NLVgal

I can't say with any certainty. I just know a guy who is making a lot of money from the Chinese investors right now.
He had no reason to lie to me. I'm not in a position to invest, and he wasn't trying to get in my pants.

I don't doubt him, but FYI it is very difficult to take money out of mainland china. Very difficult.

[NLVgal]

Originally Posted by SportyandMisty

I don't doubt him, but FYI it is very difficult to take money out of mainland china. Very difficult.

Yes, but people are very ingenious when it comes to protecting their wealth.

[VegasGhost]

"On any message board there is always trolls who always see the bad side of any situation. I lived in Chicago, Dallas, Detroit, Denver and there is always good and bad in any city - no city is perfect. Sounds like Ron needs to move."

-This comment certainly seems ironic.

Just because someone has a negative or realistic viewpoint doesn't make them a troll. It could simply mean they have a negative or realistic viewpoint out of their experience and they want to express this to people. After all you can't just take the good without the bad to make a rational determination, like you say. I've heard many comments about Vegas from outsiders and they aren't exactly G-Rated sentiments. I've even heard folks from Tombstone Arizona say Vegas sucks...Go figure. But apparently some people just don't like rational, valid arguments, so they go whitewashed, which is sad...

A troll is someone who criticizes and is negative for the sake of being critical and negative which gives them pleasure. I'm pretty sure those are easy to find on any message board. This topic doesn't necessarily warrant troll behavior.