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Asians have a sh*tload of cash, especially Chinese. They don't like credit or to borrow from American banks, or to spend on clothes/cars/etc for that matter.
Asians have a sh*tload of cash, especially Chinese. They don't like credit or to borrow from American banks, or to spend on clothes/cars/etc for that matter.
no need to stereotype especially in that tone. Not all Chinese people are the same. The ones with the cash tend to be the recent foreign ones who don't have any credit to borrow. When I travel abroad, its locals who stare at my "American" appearance as I am the one fresh off the boat.....so I try to have some empathy when they come here.
Asians have a sh*tload of cash, especially Chinese. They don't like credit or to borrow from American banks, or to spend on clothes/cars/etc for that matter.
The rich Russians Arabs and Latinos come to snap up American properties the same way as those recently rich Chinese power corrupts. No need to be depressed though.
If would be nice for USA government to enforce some 100% purchase tax for non-resident international buyers. In this way the money made can be used to put up more shelters for the needed or even food stamps for lower muddled class workers. These foreign riches they won't care much about some extra to pay because they have acquired some money sucking skills from else where. They view us houses a safety new for them to place their money in case their own countries go belly up economically or politically.
The rich Russians Arabs and Latinos come to snap up American properties the same way as those recently rich Chinese power corrupts. No need to be depressed though.
If would be nice for USA government to enforce some 100% purchase tax for non-resident international buyers. In this way the money made can be used to put up more shelters for the needed or even food stamps for lower muddled class workers. These foreign riches they won't care much about some extra to pay because they have acquired some money sucking skills from else where. They view us houses a safety new for them to place their money in case their own countries go belly up economically or politically.
the ultra wealthy generally don't buy in queens. they buy in manhattan......and even then those "trophy" properties are a very small elite crowd.
Why tax internationally buyers? If foreigners invest in good ole USA...isn't that a good thing? Why should it be a penalty?
bayside has long had pent up demand from asians from flushing who have prospered and migrated east along northern blvd. It's not just bayside where they buy. They also settle in douglaston, l-neck, auburndale, manhasset, g-neck and p-wash. Don't be surprised if the areas along the pw line become one asian metropolitan area someday like the san gabriel valley.
Big thing with Asians and the Indians who have a sizable population in Bellerose is the fact they live with extended families. All these McMansions are housing grandparents and brothers and sisters. They pool the cash together.
the ultra wealthy generally don't buy in queens. they buy in manhattan......and even then those "trophy" properties are a very small elite crowd.
Why tax internationally buyers? If foreigners invest in good ole USA...isn't that a good thing? Why should it be a penalty?
I was thinking that it might help prevent locals from inflated house price. You know that Manhattan house supply is already too tight to meet the demand from local residents. Then the foreign riches would come in to buy up 1/10 of the properties and stay for couple of weeks per year in NYC for pleasure. They jack up the demand and when supply is limited, up goes the price of the property which harms the local residents. There is also a potential bubbling process when you have too many non-resident owners here.
I have heard that a significant amount of vacant apartments in Manhattan year long, which local working class may have to commute >60 min each way to work.
So I was driving around Bayside today. As a neighborhood it looks very suburban. There are quite a few houses are up for sale in the few blocks that I drove by. I feel that all houses are all so overpriced there, but nonetheless it might continue to go up if Asians keeping pouring into that area.
A lot of these Asians don't own their properties.....they are given their property by their so called "churches" that aren't even real churches. The churches own these houses and house their congregation members all around it.....just like the Jewish people. These Asians really dont have money, they pay no property taxes on these houses because the church owns them. Then to make it worst, they give their own construction companies work and the construction companies charge them next to nothing to renovate the house since those construction companies are given to them through their congregation. These people are not fooling me with their non tax paying ways.
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