We haven’t seen all that much of it here in the greater Redding market, but Chinese buyers are having an impact on California real estate to the south of us. Check out this brief video from MSNBC, as brought to my attention by blogger Marc Beauchamp:
“As for where all that cash is coming from? Nobody really wanted to talk about it.”
Yeah. I dunno. I can’t recall seeing home buyers cover their faces from cameras before. It looks more like a perp walk from a newscast. Education? Climate? Feng Shui? Uh, maybe.
Gloom blog Zero Hedge has a different perspective on the new Chinese wealth, and the effect of that Chinese cash on our economy. Perhaps Jeb Allen should book a flight to the mainland for his Palomar sales reps. Meanwhile, we’ll be brushing up on our Feng Shui, and directing buyers to properties like this amazing 1.5 square mile foreclosure property just listed for a mere $2.95M USD.