patrick.net

Why is anyone (Chinese or otherwise) buying overpriced real estate in the Bay Area? Do they want to become landlords?

With rental yields so low, is it really lucrative to be a landlord? Even if you've got "money to burn," there are safer and more liquid investments than Bay Area real estate.

APOCALYPSEFUCK is Tony Manero says

Yes, and as soon as they foreclose on all the notes they're gonna climb through your windows and eat you and the kids and carry off the wife.

Ever wonder what the symbols on the walls of the chinese restaurants say?

"On the signal, knife all the white people," is the rough translation.

Dude, are you psycho or something ? Why your comments are so extreme ? I hope they do they same with your family.

leo9 says

Dude, are you psycho or something ? Why your comments are so extreme ? I hope they do they same with your family.

Are you angry at Huntingdon Moneyworth III too?

I believe this, my Chinese ex-girlfriend wanted to pool the money from her relatives in Shanghai to buy a place here.
Wealthy Chinese, both corrupt officials and rich entrepreneurs, want to buy in California and Vancouver BC, etc.

clambo says

I believe this, my Chinese ex-girlfriend wanted to pool the money from her relatives in Shanghai to buy a place here.
Wealthy Chinese, both corrupt officials and rich entrepreneurs, want to buy in California and Vancouver BC, etc.

Vancouver is a bubble. So is much of the Chinese economy.

There are significant reasons as to why there is a higher savings rate in china

1) Socially many men have to buy a house in order to attract a women. Usually this is the reverse here with married couples buying. There are much lower numbers of single people vs married buying homes.

2) Banking insurance is much more limited outside of the USA. If banks aren't safe you are more likely to save more.

3) The concept of owning property outright can be more compelling. The idea of homesteading a house in China is impossible. Long term leases can exist but it is still the party that controls everything. Heck the ballot measures alone in CA (warts and all) generally are unseen in china as well.

4) They could be hedging against anything that might happen domestically. Likewise I'm sure there's plenty of Iranians in LA and Cubans in Miami that have large amounts of property owned.

So they're hedging against one massive bubble by investing in other massive bubbles?

Here is an interesting article

http://www.sfexaminer.com/local/peninsula/2011/10/chinese-real-estate-buyers-flocking-peninsula

If prices are going to crash - LET EM BUY! lol

leo9 says

Dude, are you psycho or something ? Why your comments are so extreme ? I hope they do they same with your family.

Obviously, you're not a golfer

Schizlor says

leo9 says

Dude, are you psycho or something ? Why your comments are so extreme ? I hope they do they same with your family.

Obviously, you're not a golfer

whats golfing got to do with it ? Please enlighten me.

tony monero = a golfer

There we go again. Well,Chinese have become integral part of America anyways. I mean come on guys,what happened to your American spirits? Do you want be rescued by Chinese in your rough times? LOL.

Unless they own a business in a major city, most foreigners like to move to the country, because it's beautiful, and there's lots of room. And just as soon as they gate off access to the community swimming hole, that has been the week end family pick nick spot for 120 years. They plan on developing the land and knocking down the trees so more foreigners can come and see how beautiful it is. That's 90% of the reason they run into problems with the local rednecks, because they have 0 respect for the locals, and it ends up being a CNN story about rednecks picking on the foreigner.
With all that drama, who in the hell would want to move to San Francisco and compete with those drama queens? When it's so much more fun to create your own.

well baby boomers need someone to buy their homes so they can retire.

it's the whole point of globalization the reason for the delay of electric fence.

just watch...Chinese farmers using Ameritrade accounts will fuel the next wall-street's comeback.

What is missing completely from this thread is data and statistics - there are just anecdotes and speculation...

Mark D says

well baby boomers need someone to buy their homes so they can retire.

it's the whole point of globalization the reason for the delay of electric fence.

just watch...Chinese farmers using Ameritrade accounts will fuel the next wall-street's comeback.

Asians are moving in significant numbers to San Ramon, Danville and Alamo. We've lived here four years and I've seen more in the last six months than I have in the previous three years.

When you're sitting at a traffic light, it turns green and the white Toyota minivan in front of you just sits there with the driver staring into space with his/her mouth open and both hands on the wheel in a death grip, you'll know they've arrived in your neighborhood as well. It's a nasty stereotype but I only mention it because we see it every day.

PockyClipsNow says

If prices are going to crash - LET EM BUY! lol

But they won't, largely because sellers know they're coming.

This is another part of why we bought. My accounting and finance buddy in Cleveland thinks it's part of the reason we were so easily approved for our loan.

drtor says

What is missing completely from this thread is data and statistics - there are just anecdotes and speculation...

Just keep your eyes open and look around and you will not need any data. I guess you are not from bay area otherwise you won't be making this comment. It is pretty obvious to any one living in bay area.

leo9 says

ust keep your eyes open and look around and you will not need any data. I guess you are not from bay area otherwise you won't be making this comment. It is pretty obvious to any one living in bay area.

Yes that is right. Just like when Bush and Greenspan were calling it not a bubble but an Ownership Society but when we saw what was around us it was pretty obvious, people living beyond their means.
But for those immigrant buyers in The Fortress the party never stopped that is what is still pretty obvious to us who are living in the Bay Area.

It is ironic first we last our jobs to Chienses and know we are loosing our homes to them while our own people are hurting. This sucks there should be a law that forignerss can't buy property in USA just like you can't buy propert in China if you are a forigner. Influx of tek Chiense and Indians have totally runied culture of all the good companies in bay arera. They will put up with abuse, work 18hrs a day to kiss ass to keep thier masters happy. Some companies won't even hire you because you are native born US citizen.

leo9 says

drtor says

What is missing completely from this thread is data and statistics - there are just anecdotes and speculation...

Just keep your eyes open and look around and you will not need any data. I guess you are not from bay area otherwise you won't be making this comment. It is pretty obvious to any one living in bay area.

Wow, you are amazing. Just by looking around you know who is buying and who is not and whether they are native american, green card holders, h1b, or true foreign buyers. I'm impressed. Now that's a talent.

madmax says

there should be a law that forignerss can't buy property in USA just like you can't buy propert in China if you are a forigner.

You are misleading people with xenophobic rants. Here is a link about buying property in China.
http://internationalliving.com/countries/other-countries/asia/china/buying-real-estate-in-china/

futuresmc says

However, this goes to show that all this hype about an absolute Chinese superpower is just hype.

not according to Alex Jones

http://www.youtube.com/embed/9LOfkzO0DkM

madmax says

It is ironic first we last our jobs to Chienses and know we are loosing our homes to them while our own people are hurting. This sucks there should be a law that forignerss can't buy property in USA just like you can't buy propert in China if you are a forigner. Influx of tek Chiense and Indians have totally runied culture of all the good companies in bay arera. They will put up with abuse, work 18hrs a day to kiss ass to keep thier masters happy. Some companies won't even hire you because you are native born US citizen.

or maybe because of their bad spelling!