According to the Washington Post, for the fourth year in a row, buyers from China ranked first among foreign nationals purchasing property in the United States, according to a survey by the National Association of Realtors (NAR). U.S. home sales to Chinese nationals totaled $27.3 billion — exceeding the total dollar sales figure of the next four countries in the rankings combined, the survey showed.
1. Explain what this influx of investment from China is doing to some real estate markets.
2. When did Chinese nationals start buying U.S. property in large numbers?
3. On average, what types of properties are Chinese looking for?
4. What did you find to be the most interesting issue in this article?
McMullen, T. (2016). Wealthy Chinese buyers are a growing force in U.S. real estate markets. The Washington Post, Oct. 14 (Retrievable online at https://www.washingtonpost.com/realestate/wealthy-chinese-buyers-are-a-growing-force-in-us-real-estate-markets/2016/10/13/15ab3cba-7441-11e6-8149-b8d05321db62_story.html?hpid=hp_hp-more-top-stories_chinarealestate-830am%3Ahomepage%2Fstory)