China buys $22bn worth of US homes in 12 months

I thought the Chinese were good investors. The property in the USA continues to decline in value since 2008 our appraisals have dropped at least 2 percent per year. Downsizing and becoming a transient seems to be the way to go today. I do have a secret Nuclear Bunker in south Wyoming . I will keep that one ,just in case.

Follow The Money

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http://rt.com/business/171496-china-california-homes-property/

Foreign buyers of US residential real estate surged 35 percent last year, with Chinese buyers, searching for moderately priced, safe investments in a sea of economic and political uncertainty, outspending the rest of the world.

Chinese buyers spent $22 billion on US homes in the 12-month period ending in March, or about 24 percent of total foreign sales by dollar value, according to a study released Tuesday by the National Association of Realtors (NAR). That’s up from $12.8 billion, or 19 percent, on the previous year.

Total international purchases of American homes jumped to $92.2 billion, according to the NAR, an increase of $68.2 billion on the year before and $82.5 billion for the year ending in March 2012.

Foreign clients made up about 7 percent of transactions in the $1.2 trillion US real estate market.

Thanks to a surging economy that has seen China rival the United States…

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