Housing shouldn’t look at any color but the color of money

Housing shouldn’t look at any color but the color of money

People with bad credit and bad habits should be squeezed out of housing

Who is Nat Hardwick?

Former LandCastle Title CEO owns NASCAR team, rubs elbows with PGA pros

Lawsuit alleges former LandCastle Title CEO embezzled $30 million

Nat Hardwick allegedly used funds for private jets, gambling
W S
Investments / The Ticker

Chinese investors snatch up U.S. houses

New York City
/ Print / Reprints /
| Share More
/ Text Size+

Chinese investors are snatching up houses across America, looking to spend money on real estate. But what cities are catching their eye? According to an article in CNNMoney, New York and Los Angeles top the list of cities they are most interested in, but more surprisingly, Detroit and Philadelphia also made the cut. CNNMoney explains:

Chinese buyers purchased $8.2 billion worth of U.S. property in 2012, according to Juwai. It ranked cities by how many searches they attracted from Chinese house hunters.

And the transactions are often quick and clean: 70% of the Chinese buyers pay cash, according to the National Association of Realtors.

"They look at these as a safe haven for their money," said Pam Liebman, CEO of the Corcoran Group.

Source: CNNMoney
Read full story

Recent Articles by HousingWire Staff

Comments powered by Disqus