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Open The Floodgates: Chinese Inquiries On US Real Estate Soar 35% After Easing Of Visa Rules
Submitted by Mike Krieger via Liberty Blitzkrieg blog,
In a nation in which 1 out of every 3 homes is unaffordable, you’d think the primary goal of public policy wouldn’t be to ensure real estate becomes even more out of reach for the average citizen. However, we live in a country in which policy isn’t being driven by logic and what’s in the best interest of “the people,” rather, we live in an neo-feudalistic society in which policy is being driven by what is best for a handful of white-collar criminals.
It’s bad enough that American financial oligarchs have leveraged free money polices of the Federal Reserve to purchase tens of billions of dollars in real estate only to rent it back to people who were kicked out of their homes during the 2008 crisis, but the government is now going out of its way to allow Chinese (and other foreign criminals) to launder money via U.S. property.
In case you aren’t up to speed on this issue, I suggest reading the following:
Chinese Purchases of U.S. Real Estate Jump 72% as The Bank of China Facilitates Money Laundering
Zillow Opens the Floodgates to Chinese Buyers in Order to Keep Housing Bubble 2.0 Inflated
* * *
Apparently, the level of ill-gotten funds flowing into U.S. real estate still hasn’t reached the level desired by policy makers. As such, China and the U.S. have extended the terms of multiple entry short-term tourist and business visas to 10 years from one year. Reuters reports the result has been a 35% jump in Chinese interest:
(Reuters) – Chinese inquiries about real estate investment in the United States surged 35 percent this week after the two countries agreed to extend the terms of short-term visas, China’s top international property portal said on Friday.
The White House announced this week that both countries have extended the terms of multiple entry short-term tourist and business visas to 10 years from one year. Student visas were extended to five years from one year.
The relaxation on student visas could have a bigger impact than the other two, said Juwai.com, an online property marketplace that refers potential Chinese buyers to overseas agents. It said there were twice the number of inquiries about student visas compared to tourist and business visas.
Millennials had better fluff up that basement couch.
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world Oligarchy is now seemless. Buy in Potugal, buy in US, buy in London town. Money has to circulate.
Not all rich Chinese are criminals,
but that's the way to bet.
Thousands of rich Chinese property buyers invading the US is probably better than millions of horny Chinese paratroopers.
IDC what anyone says. They all look alike.
All cats are grey in the dark.
(Best not to use that line around your gf:))
Arcadia, CA = Spitting capital of USA
I can't wait:
"What are you fish heads looking at!!!!"
You would think the Chinese would be smarter than try to hide money in a nation they have been ripping off for years.
I mean, we are enemies even if bullets aren't flying yet. (Well, except for that missile fired off of LA.)
pods
China can keep their paratroopers … just send over the young nubile [pretty] Chinese women.
I read that as "Shitting capital of USA"
That days coming,just not yet.China made it clear after Sandy Hook,Americans should be disarmed.
Buy mine....it speaks Chinese
Let them buy it all.
We can always go third world on their asses, and repatriate everything.
If its good for the goose...
That's what I don't get. We are basically enemies who haven't started fighting yet.
pods
Do you think these rich Chinese will take advantage of our ability to own firearms?
http://en.wikipedia.org/wiki/Leland_Yee#Arrest_on_corruption_charges_and...
http://en.wikipedia.org/wiki/Raymond_Chow_Kwok_Cheung
Not the rich ones buying real estate, but the one's buying company's, agricultural and live stock and soon the country.
In Melbourne Aus we are building skyscrappers to flip to chinese ..
saddest fact is that it is still cheaper to them than buying in china
FTA -How china won without firing a shot...
Xi's address to australians he said they would be demcracy in 50 years
Imagine a full blown chines democracy with a value system comparable to western culture(that is all west have right now)
Implications are mind boggling ..
You will see a reduction in western standards of living...
They hold the bonds,so it's a deal. Just sayin.
Funny how everyone wants out of China, or at least their money and their oh-so-precious sons.
The foot voters are all coming to America.
The mouth voters are all moving to China. Or so they claim.
It's called diversification. Some would argue it's an investment strategy. The question is, how many of those travelling Chinese ask for American citizenship ? Soon enough they would start to realize that they only jumped from the frying pan into the fire...
The word you are actually looking for is "hedge", not investment.
As per the question of citizenship, the Chinese government keeps a very tight rein on overseas citizens to prevent them from straying off the reservation--particularly those who have assets and relatives at risk back home.
But feel free to jump into the frying pan, if you are so inclined.
I, for one, will welcome our new Han overlords.
And I welcome our new sweet and sour pork and Peking duck overlords. Mmm...
already got yer "sour pork" as the Chinese bought out Smithfields
whereupon almost immediately, a "flu" affected the "pork". . .
and now? apparently "chikken" is getting sent to China for "processing" before being shipped back to amrka? and it's so CHEEP.
seriously, these invisible border fantasies need updating. . .
i wouldn't worry
Mel Watt - FHFA - in the process of lowering downpayment for fannie and freddie to 3% to 5%
another sh!t sandwich for US taxpayer down the road
if u aint seen the movie "Looper" i suggest the following for all u american muppets out ther:
1) learn how to say "more crumbs please" in Mandarin.
2) Buy all the Silver and Gold u can afford.
ps: how have u enjoyed the post Fed bullshit statement action in the phony paper markets of Silver and Gold??
http://www.kitco.com/charts/livesilver.html
A marriage made in heaven: corrupt Chinese oligarchs desperate to move stolen assets offshore have teamed up with corrupt American oligarchs desperate to goose next month's housing numbers.
And when i seen GS involved in the Shanghi Exchange I knew it was Kaputski.
dow green now...
We've been sold out of productive capacity and career employment, now the country itself is up for sale.
Much of the money they dump here in real estate will be lost, it would seem to me.
They may inflate values at first, but many of the locations they like have water issues looming on the horizon. And our economy is in the shitter and getting worse. One would think South America would be the ticket, not US.
Not to mention that when the real financial crisis hits and states are looking for sources of 'revenue;' it will be very difficult to hide a house...
1) In steps the government with guaranteed 100 year mortgages so "the people" can afford a home. 2)Massive download to the common folk. 3)THEN, the market will crash...
are you old enough to remember the Japanese real estate bubble here when Japanese we're buying up American properties? we did the same thing to them.
The Nikkei was like 40,000 and Japanese were buying Hawaii by the island. Now they have nothing.
First it will put everyone into serfdom, just like Walmart wiped out local businesses. Its not about profit, its economic warfare - attrition. Pump & dump & scrape.
In Vancouver the Chinese have a presence of 40 pissent.
Most people are fine with it. Main Street is happy. RE prices are way up. The Chinese kids in school raise the bar.
Poor people in Detroit love the idea of Mexican and Chinese immigrants coming in to the city.
of course they do, more people to steal from.
I've a condo in Myrtle Bch, back door leads right onto an awesome golf course
FOR SALE
Gold, silver or fiat any/all accepted....
Great news! .... Amurika needs moar Commies ... !!
but
US Senate elevates Israel's status as 'major strategic partner'China is at least buying with proceeds of sales of goods and services. The Israel Lobby and Israel use US taxpayer money to lobby for more free money and goodies to Israel.
I await Krieger's article on the absolute ass-fucking trade imbalance between the US and Israel. He can start by reviewing the pro-Israel, anti-american deals engendered by dual citizen and 2nd in charge at the Fed, Stan "3 passport" Fischer.
Stanley Fischer: AIPAC's Fed Candidate on Iran Warpath
Washington Post Zionists Fret About US Losing Power, CIA ... Dual Citizenship — Loyal to Whom? | Goyim GazetteThis influx of investment money by overseas multimillionaires has already fucked the average person in London.
Just today the papers announced house prices have risen a further 12% YoY to reach an unbelievable £500,000 average - about 20x the average income. These are not individual houses in the US sense but 2 or 3-bed apartments.
But heaven forbid we try to ensure the Russian, Chinese and Arab owners actually live in the properties they're purchasing.
My 2 cents? Our government needs to grow some balls and stop catering to the 0.1% over the 99.9% - only allow people who've lived in the country for at least 3 years to buy land here.
But our government only consists of the 0.1%. Got a Chinamans chance in hell (pun intended), to have it start catering to the 99.9%.
I'm sure first-time buyers in those areas are really happy about that.
When you can't grow the American economy grow your personal one.
Move along....
Don't the Chinese hold a huge part of the American debt? If so, what stops them from exchanging their fiat dollars for real assets, like houses and land, etc, in the USA?
That's what I would do. Dollars might be ok, but real goods that can't crash are way better.
Years and years of buying fucking garbage at Wal Mart finally paying off, for them.
Re-importing inflation.
Sounds like college tuition about to get goosed as well
You'd better have a real yen if want that degree
The relaxation on student visas could have a bigger impact than the other two, said Juwai.com, an online property marketplace that refers potential Chinese buyers to overseas agents. It said there were twice the number of inquiries about student visas compared to tourist and business visas
University of California poised to hike tuition (5% for each of next 5 years) as regents, Gov. Brown battle
http://www.latimes.com/local/lanow/la-me-ln-uc-raises-tuition-20141119-s...
This may not be a bad thing at all
Once we lure them in, we tax the shit out of them and place liens when they fail to pay
WELCOME TO AMERICA!!!
More likely the US will follow Australia's example and tax the sale of foreign owned property back to residents. That way it doesn't spook the foreign cash inflow, and still squeeze the populace a bit tighter.
Only a absolute mole would enter the property game now.
wow, 10 years? MEastern developer in our neighborhood keeps putting up boarding houses disguised as single family homes. 4000 sq ft house on a 5000 sq ft lot, new construction. they must have good feng shui. Planning dept is clueless. weird vans full of 30-year-olds come and go. They seems to like lace curtains.
Like sitting Peking Ducks.
The Zionist owners of the DC US are just about finished milking it for all its worth, and are now selling off the remnants to new masters, China.
An American, not US subject.
But then their is a nuclear twist coming.
You are correct. Most people love the dual citizens more than their neighbors.
Not to mention once a population tipping point is reached, the Chinese will reject the dollar on these shores and use their Yuan.
“We don’t take that here, go exchange for real currency.”
article posted half a hour ago always a kike hasbara troll ready to downvote anyone who critizes their nazi ways as soon as the first few comments are posted.
Yes. Thomas Jefferson I now understand what you were talking about.
What is America? The biggest fema camp on earth!
Igor Panarin...?
Gotta love the art of war.
After the debt jubilee and the mass arrests of the bankers and politicians, we've got to kick these foreign fiat real estate carpetbaggers out of our country.
When totalitarian states find weaknesses in their natural Enemies, they take advantage of them.
It's not just U.S. it's everywhere free trade deals occurr
http://newworldorderg20.wordpress.com/2014/11/19/china-gets-free-ticket-to-buy-australian-real-estate-under-free-trade-deal-everywhere-free-trade-goes-destruction-follows/
http://newworldorderg20.wordpress.com
Free trade agreements are murder, descent to slavery. Secret agreements are unconstitutional and not binding. XOs are unconstitutional and not binding. Cowardly and ignorant pigs and the threat of the use of criminal force with impunity is what this global regime is based on.
They'd do anything to increase the demand because so many public pensions hold real estate. So they need to sell us out so pensioners can get their 8.5% cost of living adjustment adjustment every year. This is also one of the insentives to goose the stock market. It's all about the rich, the government continuing to overspend and the pensioners. They don't give a crap about anything else.
There has always been an "investor visa" available to foreigners who want to open a business in the US. Also, the US isn't the only place trying to attract real estate investors. It's happening all over Europe...Malta, Greece, Latvia, Portual, Spain, and a few other EU countries offer residency visas to foreigners who buy property. So what?.....it's business. Now we know how people in other nations with nice coastlines feel when Americans come in and buy up their beach front properties.
http://en.wikipedia.org/wiki/Tobin_tax
Soon USA will overtake the City of London and HK as the #1 Money Laundering Center for foreigners. I must admit the Chinese who have moved in my area are a breath of fresh air .. mow their lawns, mind their own business and work hard. I am not complaining.
ill-gotten funds
Hmm, blatant propaganda is acceptable if it's for a good purpose?
Just like the psychopaths who argued the Cyprus bail-ins were justified because almost exclusively Russian oligarch money was affected.
tang chow bing pan mow. cling pang dong foo ching ding dong pong fang yin dang.
don't forget to always knock.
three times
I like China ... but only because I am a manufacturing guy at heart. It is alive with manufacturing and engineering. Chinese are Ok too for the most part (IMO, except for the pushy old ladies) as long as you expect them to be what they are and not be like you.
The question is, when the shit hits the fan, which would you rather have?
2 trillion dollars in $100 dollar bills or 2 trillion dollars worth of real estate?
I have gone with the real estate because I no longer think deflation is where we are heading. Real estate is at least "real". A lot will depend from which direction shit hits the fan. For a while I was one of the people concerned we would see the world tumble into a massive deflationary cycle as debts went unpaided and credit collapsed.
Now I have come to think inflation is getting closer every day. This would mean the "major deflationary period" is mostly behind us and it has not been disinflation as much as inflation being kept in check because of several factors, including where the money flowed, weak demand, dropping velocity of money, and the onetime benefit of lower interest rates.
Before you discount the possibility that we will move directly from where we are into stagflation then hyperinflation please consider that hyperinflation paves the way for governments and those in power to make a transition to a replacement currency and a reset of the whole system.
http://brucewilds.blogspot.com/2014/11/deflation-i-think-not.html
I hope you don't mind if I play Devil's Advocate with your statement?
If you ask me, the financial crisis is over. Maybe not for the small and not so small investors, smallish institutions, etc, etc. But the big banks have been saved. And nations are only as strong as their military and their banks. In the last 6 years many a mortgage holder was thrown under the bus to save the banks, and thereby save the nation.
Can you honestly say that the classification of banks is any less corrupt than that of the military. The medium of banks is money, and we are all more familiar with that than with what the military does.
I say the military because in my mind that's what the 'reset' you mention will be. The worse congress and the president get, the closer a military junta get.
That reset for me began with the Millenium. The tech bubble burst and after that 'redistribution of wealth' and the election of George W. Bush, America's Reichstag was burned down in NYC, and in just 13 short years terrorism is what concerns Americans the most.
I don't believe that ISIS, like Venus, was born full grown. It is pretty clear to me that the CIA was working with the Syrian rebels before the the first confrontation between the students and the army. In Syria, Langley organized the leadership of ISIS and has those leaders in its pocket. The rank and file are, no doubt, the crazy motherfks we see and read about. But Langley tells the leaders what to do next and the rank and files does it. They have gone from West Iraq to the Sinai without even spitting at Israel. A couple of weeks ago we phoney attacks at SA. Soon we will see the same phony attacks at Israel.
Inflation has been in the supermarket for a couple of years now. And only recently did some service charges go up. I agree that deflation is behind us. My own view of the reasons begins with the realization by most BIG BUSINESSES that Diminishing Returns are here -- and are here to stay. That now, more than ever, it is time to sing off of the government's song sheet. Which has been passed out to them since the end of 2008.
Just as cupping and leaching were replaced by a more modern form medicine, so will the troubles of inflation and recession be cured with more modern techniques. They will be despised by the shrinking middle class, who are now fighting for places on the Raft of the Medusa.
None of us had any say as to the time and troubles in which we were born.
I agree with you here about a replacement currency and a reset of the whole system.
I think that the economic status quo can buy some time with a replacement currency. But a currency only used by Central banks.
A currency only used between nations and not by their citizens.
The part of the story they didn't provide is... how much more difficult the Chinese government has made getting cash outta China. So the real question is... how creative and effective are Chinese at finding ways around the new tougher barriers on getting your cash outta the Chinese version of dodge.
About that, your guess is as good as mine. But, sure sounds like one sweet opportunity for profit for anyone who finds ways to help them extract their cash from China.
It's hard to believe anyone is going to improve on this method.
I'll never forget the time in the mid 80's, when xxxxxx, who had an extremely successful artificial Christmas tree importing company returned from Hong Kong. At dinner one night he showed me 4 or 5 personal checks totaling a little more than $30,000. He usually went to China (Hong Kong) in January after the Christmas season to order for the next year.
For some reason or another after he met with the factory owners, he would end up with thousands of dollars in his pocket. As there was a limit on the amount of cash you could transit out and transit in with, a cottage industry blossomed in China whereby you could give USD to an honorable Chinese gentleman, whom you didn't know but who was recommended to you. He would give you his personal check drawn on an American bank for that amount less a small handling fee.
When you got home you deposited the check and voila.
Money and wealth is being shifted to America from many areas. Having the dollar as the world reserve currency is both a blessing and a curse. The world is currently engaged in a massive game of speculation and chance that contains a lot of risk. Political considerations and insider deals between both nations and Central Banks play a big roll in this game.
A chart I saw recently touted how the percentage of funds held by foreign governments in dollars has fallen in recent years. Even after many countries have reduced their holdings in dollar reserves the dollar still carries a major wallop and place in the world economy and will effect everyone going forward. More on how the dollars role as the reserve currency effects all of us in the article below.
http://brucewilds.blogspot.com/2014/11/reserve-currency-status-both-blessing.html
The big ugly games continue and we are the pawns.
Forget Spanish its time to learn Chinese. With 1.3 billion people who want out of China, dumb asses just open the door. 5 year visa means there will be a flood of students that will settle down into jobs and not be going back, plus enough time to pop out a couple kids. These idiots make me sick!
Walking four abreast, it will take 287 years for 1.3 billion people to leave China.
You're prolly thinking, "If I could open a Sabrett hot dog stand every 40 miles, I'd be a billionaire in 73 years.
Good thinking, rgetty.