U.S. real estate a bargain for Chinese

NEW -> Contingent Buyer Assistance Program
QH Renter said:
I saw a tour bus of Chinese tourists at The District last weekend. I thought about asking them if they were there to buy toxic mortgages from toxic VoC, but since I am gwailo I decided against it.
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They were there having American food at Pei Wei.
 
bkshopr said:
QH Renter said:
I saw a tour bus of Chinese tourists at The District last weekend. I thought about asking them if they were there to buy toxic mortgages from toxic VoC, but since I am gwailo I decided against it.
Click to expand...

They were there having American food at Pei Wei.
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That's a Vegas bus that came from Ranch 99... probably cruising through WestPark II, got disoriented from the smell of the WM dumping facility off of Warner and ended up lost in the District traffic maze.
 
asianinvasian said:
With U.S. home prices so depressed, the Chinese are coming

The Associated Press

updated 10:37 a.m. PT, Thurs., Feb. 12, 2009

...

"The price is low now, but it's in a good neighborhood with breathtaking views, so it will definitely appreciate," he said.
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FAMOUS PARTING WORDS... Doesn't anyone learn... that speculative buying doesn't pay off?! Hopefully, the chap that said this is planning on holding for more than 3 years! ;)
 
http://www.bloomberg.com/apps/news?pid=20601087&sid=aof9px2sMGho

<<<BMW, Mercedes

Preliminary deals included an agreement with Bayerische Motoren Werke AG to buy about 37,000 BMW and Mini cars valued at $2.2 billion, and a contract with Daimler AG covering 27,000 Mercedes cars, China’s official Xinhua News Agency said. >>>

Jeez ...That could have been 20,000 foreclosures in Riverside. NBC Nightly News had a section on the Chinese Real Estate tour last night where they interviewed several Chinese buyers. Most were looking for houses close to universities and or local Chinatowns with a price of $500,000. Los Angeles and Boston were considered to be of interest.
 
FOR THOSE WHO REMEMBER after the Reaganomics SPENDING SPREE ( he spent more than the entire 200 years before him) but cuts to sba and people

both residential and commercial RE took A HUGE DIVE.

THA JAPANESE BOUGHT BIG AND BAILED US OUT OF A FREE FALL.

THEY WERE STUCK WITH promise of big RETURNS DIDNT HAPPEN FOR YEARS.

So now if we get a Chinese bail out this time ,great.

Hope they know they are in it for the long haul.
 
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