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If you don't want to support America quit the F shopping at Walmart and buying foreign cars.
i'm on board, is the rest of America? BTW, "foreign" cars are now made 100% in the USA, Nissan, Toyota, Honda - they're all manufactured right here in the US.
On the other hand, GM makes their cars in Mexico.
So which is foreign and which is American?
Sorry, but i'd rather have Mr. & Mrs. Smith as my neighbors rather than "The Blackstone Group".
Regarding Chinese contribution, your figures may be right in a national context, however virtually all Chinese purchases have been concentrated in key areas such as NorCal and SoCal and NYC so they are a huge part of the current local market. Your typical Chinese investor is not buying homes in Kalamazoo, Michigan or Wazoo city, Alabama!!!
When people say that housing prices are "recovering" or "almost recovered" I just laugh with amusement at their idiocy. So let me use some logic here. Reports are that the median price right now here in Orange County is within 15% of 2006 pre-crash all time high price level (per Zillow the current median price as of June 2014 is $652,000 and the prior all time high was $790,000 sometime in 2006). In 2006 it represented "the largest real estate bubble in the history of the United States" and everyone rightly acknowledged that. Now we are almost approaching that same figure but somehow now it represents "a recovery to the mean level". And when it reaches the pre-crash high it will be considered as "recovered".
That makes no logical sense whatsoever... going back to the peak of the prior bubble, the biggest bubble in the history of the United States is a legitimate recovery? Really? This mirrors the delusional logic that people had during the last boom. People will refuse to think logically because they are so obsessed with home prices rising (and hence their net worth).
i'm on board, is the rest of America? BTW, "foreign" cars are now made 100% in the USA, Nissan, Toyota, Honda - they're all manufactured right here in the US.
On the other hand, GM makes their cars in Mexico.
So which is foreign and which is American?
Sorry, but i'd rather have Mr. & Mrs. Smith as my neighbors rather than "The Blackstone Group".
Regarding Chinese contribution, your figures may be right in a national context, however virtually all Chinese purchases have been concentrated in key areas such as NorCal and SoCal and NYC so they are a huge part of the current local market. Your typical Chinese investor is not buying homes in Kalamazoo, Michigan or Wazoo city, Alabama!!!
When people say that housing prices are "recovering" or "almost recovered" I just laugh with amusement at their idiocy. So let me use some logic here. Reports are that the median price right now here in Orange County is within 15% of 2006 pre-crash all time high price level. In 2006 it represented "the largest real estate bubble in the history of the United States" and everyone rightly acknowledged that. Now we are almost approaching that same figure but somehow now it represents "a recovery to the mean level". And when it reaches the pre-crash high it will be considered as "recovered".
That makes no logical sense whatsoever... going back to the peak of the prior bubble, the biggest bubble in the history of the United States is a legitimate recovery? Really? This mirrors the delusional logic that people had during the last boom. People will refuse to think logically because they are so obsessed with home prices rising (and hence their net worth).
Regarding Chinese contribution, your figures may be right in a national context, however virtually all Chinese purchases have been concentrated in key areas such as NorCal and SoCal and NYC so they are a huge part of the current local market. Your typical Chinese investor is not buying homes in Kalamazoo, Michigan or Wazoo city, Alabama!!!
Maybe that's because your average Chinese investor has more smarts or better advice than people investing in Kalamazoo, Michigan or Wazoo city, Alabama!!!
Hey, want to buy some good real estate deals in Detroit?
Guys, guys...the reason they don't buy in places like NE Mississipi and other worthless areas are because they can't compete with guys like Listener2307 and they know it. You just can't compete with a guy like this, about half the way down the page.
Guys, guys...the reason they don't buy in places like NE Mississipi and other worthless areas are because they can't compete with guys like Listener2307 and they know it. You just can't compete with a guy like this, about half the way down the page.
Tinytrump writes : "when you grands or great grands can't buy a home. look in the mirror"
Let me add: when your kids or grand kids can't get a job, look in the mirror.
Anecdotal evidence: a friend from Vietnam, fully bilingual, speaks English much better than me, tried to get a technical job. He was qualified. The owners asked him if he speaks Chinese. When he said no, they told him don't bother with the application.
I'm very good at my job, but no one would hire me in our business again because my Spanish is limited to a few words and phrases. Mas o menos. It didn't matter in 1999 when I was hired, but it does now.
As for buying a home, if we had to buy our own home once again with the same 20 % down payment, the loan officer would gently escort us, out the door, saying: "Please don't waste my time."
Yes, tinytrump, you are right, and there is nothing we can do about it. This is not your Father's Oldsmobile.
Last edited by mgforshort; 08-15-2014 at 06:09 PM..
QUOTE--Lopez Tardon, the alleged leader of the Los Miami drug gang from Spain, is facing a trial in Miami on charges of laundering $26.4 million in drug money into real and personal property here
Do you really think all the investors are somehow the best of the best? Again you have business of selling a few homes and rehabs etc, great love it, family buying better, corporations with hedge funds with no names and unknown origins.. Sorry won't agree. Ever... You really gotta follow the money to understand what is happening, and just like there was an uproar when they wanted to sell the Port of Miami to the Arabs few years back, pay attention, who is owning America..
I have a problem with it,,, they come NOT buy a house --as I save and work hard and maintain my credit to buya home. They come with big cash and buy a "block" kicking the norm US citizen to the curve... sure- all you want is your cash... and the community? I do not care if "families" come to LIVE here- these are investors! read the same article/
quote# The influx of Chinese buyers has helped push home prices higher His clients spend between $1 million and $4 million and many treat the purchases solely as investments
when you grands or great grands can't buy a home. look in the mirror
Those investments are dependent on geography. Manhattan and Miami have attracted foreign investment for decades. There is a substantial number of high end units that are unoccupied or only occasionally occupied.
Investment is most certainly not limited to Chinese investors. Wealthy Europeans, especially Russians and South Americans are huge investors in some areas.
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