Foreign purchases of American homes plunge 36% as Chinese buyers flee the market - hope the price comes down in Bay
The dollar volume of homes purchased by foreigners from April 2018 through March 2019 dropped 36% from the previous year, according to the National Association of Realtors. · Foreigners bought 183,100 properties with a total value of about $77.9 billion, down from 266,800 properties valued at $121 billion a year earlier. · “The magnitude of the decline is quite striking, implying less confidence in owning a property in the U.S.,” the Realtors’ chief economist says. https://www.cnbc.com/2019/07/17/foreign-purchases-of-american-homes-plunge-36percent-as-chinese-buyers-flee.html
the property i was checking here in nyc just dropped 50K and has been in the market for 270 days
It better drop some more
I think people were getting greedy as well. Trying to sell shack for millions and were getting paid as well. Thanks to FAANG and Start Ups
Lol, trump supporters can suck it now loll
Go and buy cheaper properties you mean?
Yaaa right. Wait for fallout when all his corrupt buddies and his failed policies take us to another Great Depression
Are you expecting to buy at a bargain price?
This is more about economic conditions and capital flight controls in places like china, than anything to do with Bay Area prices.
Thank you president trump for making housing affordable
And locking people up for long mortgages that they can’t pay back. Haha
There's something sad about that "haha". Don't worry, you'll be fine dontalk2me
London house price is crashing, based on the land registry report (it is UK's national statistics ogranisation) released yesterday. It is really bad.
One of the FAANG screws up then whole housing market will come down .
We knew Chinese investment would go down with Trump on top of pre existing issues in China's economy. I was surprised though it dropped 50% in one year, that's including foreigners working here. I'm guessing the effect is much larger in the bay area.
Hope the house prices drops . Plan to buy soon .
Contradictory statement.
Anybody who wasn’t delusional should’ve seen this. Can’t believe there were people who believed that their $1 million property would appreciate to $2 million within a few years
Lol peoples 1M property HAS appreciated to $2 and more in a few years...
Yes so pendulum swing the other way now