Our lands are being sold to the Chinese…Again, Biden did it, Chinese investors are gobbling up US houses and lands at an alarming rate last year.
If Joe Biden, in any case, has absolute power over everything, he might sell the entire United States to China for an enormous profit. Of course, his son Hunter will have his fair share, maybe…
An alarming report from The National Association of Realtors (NAR) this week revealed that activity from foreign real estate buyers increased substantially for the first time in three years.
Those buyers include the Chinese Communist Party, Taiwan, and Hong Kong, the U.S. real estate market report from NAR showed.
The investors spent an average of $1 million per property transaction, with nearly 31 percent of the purchases involving property in California, according to the report.
All in all, foreign citizens bought $59 billion dollars in US property in the past year; however, none were as aggressive with their funds as the Chinese, who spent a staggering $6.1 billion across fifteen different states in the US between April 2021 to April 2022 – which amounts to an increase of nearly 30% over the year prior.
Here’s what the Washington Examiner report says:
“Foreign purchasers from China bought $6.1 billion in U.S. homes from April 2021 to March 2022, which the trade association’s report said was up 30% from the prior year. Canadians bought $5.5 billion in U.S. housing properties, Indians bought $3.6 billion, Mexicans $2.9 billion, and Brazilians $1.6 billion, according to a new report by the National Association of Realtors.”
More from The Gateway Pundit:
According to NAR, the increase in Chinese buyers comes as other countries begin banning Chinese investments because they contributed to skyrocketing housing prices in other markets. Nevertheless, the US allows their dollars to keep pouring in. California, with 31% of all Chinese purchases, is by far the hottest spot for Chinese investors in the US over the past year. Followed by New York in second place. Flordia and Indiana are tied for third.
Not only are Chinese investors leading the pack in total dollars, but they are also spending the most per property. With the average home price in the US approaching $400,000 for the first time in history, foreign investors have been paying an average of 600,000 per home. However, this number jumps up to a staggering $1,000,000 average purchase price for Chinese buyers.
In other words, as Americans are rapidly priced out of owning their own home, wealthy foreigners are being allowed to gobble up the dwindling housing supply.
The effects of this are already being felt stateside, as housing prices in the areas where the most foreign buyers have invested are nearly 10% higher than in other areas, according to the Daily Mail.
Daily Mail also reported:
“US zip codes that hold the highest number of foreign buyers have increased housing prices by eight percent, according to the journal. Keys says the number of new jobs has increased far more than the number of available housing, causing property values to skyrocket.
The San Francisco Bay Area – located in the number one state for Chinese buyers – has seen a 30 percent increase in employment, but not even a 10 percent increase in housing units, Keys revealed.
‘The big picture is we have an affordability crisis for housing in the cities where the jobs are,’ he said. ‘There are a lot of hoops to jump through to get anything built in these places, especially to build in a way that is dense.’”
Following the release of NAR’s report, Florida Governor Ron DeSantis addressed his state being so high on the list and called the situation a “huge problem” during an appearance with Laura Inghram on Fox News.
Here’s what DeSantis said:
“I don’t think they should be able to do it. I think the problem is these companies have ties to the CCP, and it’s not always apparent on the face of whatever a company is doing.”
Florida was the state that has the most real estate purchases, according to the NAR report, and [2021] represents the 14th consecutive year that foreign investors picked that state as a top choice.
Florida accounted for 24 percent of all international real estate purchases in the U.S., with California ranked second at 11 percent.
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Continue reading here: TheGatewayPundit
Sources: TheGatewayPundit, NYpost, Daily Mail, FoxNews, WashingtonExaminer
