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Old 03-24-2014, 10:26 AM
 
Location: Riverside
4,088 posts, read 4,388,688 times
Reputation: 3092

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There have been a few threads speculating about the effect an influx of Chinese buyers are having on home prices here in the Southland.

Here's an article in today's LAT on the subject:

LA Times
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Old 03-24-2014, 10:29 AM
 
Location: Southern California
12,713 posts, read 15,539,449 times
Reputation: 35512
Can't wait for this bubble to burst!

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Old 03-24-2014, 10:45 AM
 
1,714 posts, read 3,852,911 times
Reputation: 1146
A year or so ago, decent houses in Walnut, Diamond Bar, Arcadia, etc would be sold within 24 hours of listing.

I don't know if that's the case anymore, but it seems like there's still no shortage of cash buyers out there.

The Chinese highly prefer owning properties as a form of wealth and investment, so don't expect them to let go of their U.S. properties any time soon.
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Old 03-24-2014, 10:54 AM
 
5 posts, read 5,611 times
Reputation: 10
Wow! crazy
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Old 03-24-2014, 10:57 AM
 
Location: SoCal
144 posts, read 608,456 times
Reputation: 67
Really won't affect them much, they are cash buyers or have huge downpayments and tend to hold forever. This is usually their spare cash that they need to stock away from currency fluctuations so they can easily ride out the bubble.
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Old 03-24-2014, 11:01 AM
 
Location: South Bay
7,226 posts, read 22,199,581 times
Reputation: 3626
don't want to pay prices inflated by chinese demand? easy, live in an area without a sizeable chinese population.

that's what i got from this story.
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Old 03-24-2014, 11:24 AM
 
Location: Pasadena, CA
401 posts, read 767,851 times
Reputation: 398
Quote:
Originally Posted by BRinSM View Post
don't want to pay prices inflated by chinese demand? easy, live in an area without a sizeable chinese population.

that's what i got from this story.
When we were looking, we actually steered clear of San Marino for this reason. Additionally, me being a little paranoid when spending this kind of money for a house, I worried about being in a heavily Chinese neighborhood if the Chinese economy ever implodes.. there might be mass selling and rapid decline of property values. Probably won't happen, but I didn't want to sink $2-3M into a house and come out on the wrong side of that bet.
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Old 03-24-2014, 11:54 AM
 
Location: Laguna Niguel, Orange County CA
9,807 posts, read 11,145,157 times
Reputation: 7997
Slightly OT, the Chinese real estate market is dangerously close to imploding, and if it were to do so, it would be a lot worse than what we experienced in the US. See here.

And if these holders of real estate experience an implosion in China, what do you think they will do with their California real estate holdings? Hint: dump.
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Old 03-24-2014, 12:51 PM
 
Location: OC/LA
3,830 posts, read 4,664,302 times
Reputation: 2214
Was looking around at high net worth cities the other day. Arcadia is #1 for median household income and #2 for per capita income in cities over 50,000 in population. That's higher than Palo Alto AND Newport Beach. Absolutely insane.


# City Population Median HH Income
1 Arcadia, California 56,364 $107,877
2 Lower Merion, Pennsylvania57,825 $107,326
2 Bethesda, Maryland 55,300 $99,102
3 Greenwich, Connecticut 61,101 $99,086
4 Flower Mound, Texas 64,669 $95,416
5 Burke, Virginia 57,651 $93,561
6 West Bloomfield, Michigan 64,804 $91,661
7 Pleasanton, California 63,569 $90,859
8 Palo Alto, California 58,783 $90,377



# City Population Per Capita Income
1 Brighton, Michigan 61,101 $74,346
2 Arcadia, California 56,364 $67,400
3 Johns Creek, Georgia 76,728 $65,994
4 Newport Beach, California 85,186 $63,015
5 Bethesda, Maryland 70,032 $58,479
6 Palo Alto, California 58,598 $57,257
7 Newton, Massachusetts 83,829 $45,708
8 Boca Raton, Florida 74,764 $45,628




List of highest-income places in the United States - Wikipedia, the free encyclopedia
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Old 03-24-2014, 01:20 PM
 
Location: Southern California
4,451 posts, read 6,801,295 times
Reputation: 2239
"Chinese buyers bought 12% of all U.S. homes purchased by foreign citizens last year, up from 5% in 2007"

I wonder what is the make up of the other 88%
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