After years of torrid money-laundering buying of US properties by wealthy Chinese, purchases of US commercial real estate by the Chinese tumbled last year to the lowest level since 2012, according to a new report by the Wall Street Journal.
Recall, we reported back in early December that Chinese firms had dumped $1 billion of US real estate in the quarter prior.
Of course, the selling stands in significant contrast to the five years prior to 2018 when Chinese conglomerates led a seemingly endless buying spree in the United States.
Tens of billions of dollars of Chinese money was spent on places like the Waldorf Astoria New York and a nearly billion dollar skyscraper development in Chicago.
Still, for 2018, the Chinese were net buyers of $2.63 billion in US real estate.
Chinese buyers have also been selling their US homes, as purchases by the Chinese in the United States tumbled 4% between April 2017 and March 2018.
Regardless, "Experts" still expect Chinese money to pour into US real estate in 2019.
https://www.zerohedge.com/news/2019-02-01/chinese-accelerate-their-exodus-us-real-estate
Recall, we reported back in early December that Chinese firms had dumped $1 billion of US real estate in the quarter prior.
Of course, the selling stands in significant contrast to the five years prior to 2018 when Chinese conglomerates led a seemingly endless buying spree in the United States.
Tens of billions of dollars of Chinese money was spent on places like the Waldorf Astoria New York and a nearly billion dollar skyscraper development in Chicago.
Still, for 2018, the Chinese were net buyers of $2.63 billion in US real estate.
Chinese buyers have also been selling their US homes, as purchases by the Chinese in the United States tumbled 4% between April 2017 and March 2018.
Regardless, "Experts" still expect Chinese money to pour into US real estate in 2019.
https://www.zerohedge.com/news/2019-02-01/chinese-accelerate-their-exodus-us-real-estate
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