{"id":4154,"date":"2022-07-29T03:43:24","date_gmt":"2022-07-29T03:43:24","guid":{"rendered":"https:\/\/sasquatchnewsonline.com\/?p=4154"},"modified":"2022-07-29T03:43:24","modified_gmt":"2022-07-29T03:43:24","slug":"in-the-past-year-chinese-investors-purchased-6-1-billion-worth-of-property-in-the-us-after-being-banned-by-other-countries-for-pushing-up-house-prices","status":"publish","type":"post","link":"https:\/\/sasquatchnewsonline.com\/?p=4154","title":{"rendered":"In the Past Year, Chinese Investors Purchased $6.1 BILLION Worth of Property in The US After Being Banned by Other Countries for Pushing Up House Prices"},"content":{"rendered":"

This week, a report by The National Association of Realtors (NAR) revealed<\/a> that activity from foreign real estate buyers increased substantially for the first time in three years.<\/p>\n

All in all, foreign citizens bought $59 billion dollars<\/a> 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 \u2013 which amounts to an increase of nearly 30% over the year prior.<\/p>\n

With Biden in office, Chinese investors are gobbling up US houses at an alarming rate.<\/p>\n

From the Washington Examiner:<\/p>\n

\u201cForeign purchasers from China<\/a>\u00a0bought $6.1 billion in U.S. homes from April 2021 to March 2022, which the trade association\u2019s report said was up 30% from the prior year.\u00a0Canadians<\/a>\u00a0bought $5.5 billion in U.S. housing properties,\u00a0Indians<\/a>\u00a0bought $3.6 billion,\u00a0Mexicans<\/a>\u00a0$2.9 billion, and\u00a0Brazilians<\/a>\u00a0$1.6 billion,\u00a0according to a new report by the National Association of Realtors<\/a>.\u201d<\/em><\/p>\n

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.<\/p>\n

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<\/a>, foreign investors have been paying an average of 600,000<\/a> per home. However, this number jumps up to<\/a> a staggering $1,000,000 average purchase price for Chinese buyers.<\/p>\n

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.<\/p>\n

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<\/a> to the Daily Mail.<\/p>\n

From the Daily Mail<\/a>:<\/p>\n

\u201cUS 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.\u00a0<\/em><\/p>\n

The San Francisco Bay Area \u2013 located in the number one state for Chinese buyers \u2013 has seen a 30 percent increase in employment, but not even a 10 percent increase in housing units, Keys revealed.\u00a0<\/em><\/p>\n

\u2018The big picture is we have an affordability crisis for housing in the cities where the jobs are,\u2019 he said. \u2018There are a lot of hoops to jump through to get anything built in these places, especially to build in a way that is dense.’\u201d<\/em><\/p>\n

Following the release of NAR\u2019s report, Florida Governor Ron DeSantis addressed<\/a> his state being so high on the list and called the situation a \u201chuge problem\u201d during an appearance<\/a> with Laura Inghram on Fox News.<\/p>\n

From DeSantis<\/a>:<\/p>\n

\u201cI don\u2019t think they should be able to do it. I think the problem is these companies have ties to the CCP, and it\u2019s not always apparent on the face of whatever a company is doing.\u201d<\/em><\/p>\n

Watch:<\/p>\n\n

Chinese purchases of US properties have been garnering intense scrutiny as of late, as several lawmakers have begun to sound the alarm over several large recent farmland purchases. Earlier this month, it was revealed that a Chinese-Communist Party-backed firm had purchased a parcel of land just 12 miles from a US military base in South Dakota. Coincidentally, the farmland is also just miles away from the agricultural area that was just purchased by Bill Gates.<\/p>\n

Following the discovery of the CCP-linked purchase, a group of Republican Senators led by Florida\u2019s Marco Rubio sent a letter<\/a> to Defense Secretary Lloyd Austin and the Committee on Foreign Investment in the United States, asking them to \u201cconduct a review of Chinese food manufacturer Fufeng Group\u2019s recent purchase of roughly 370 acres of land near Grand Forks, North Dakota.\u201d<\/p>\n

The land in question \u201cis approximately 12 miles from Grand Forks Air Force Base, which has led to concern that Fufeng operations could provide cover for PRC surveillance or interference with the missions located at that installation,\u201d Rubio\u2019s letter explained<\/a>.<\/p>\n

Now, it has been revealed that Chinese investors have spent billions more on residential properties across the US. Even though it is unknown at this point what, if any, involvement the CCP has in these purchases, the Chinese investors have routinely proven to be a burden everywhere they begin snapping up properties. In the worst cases of this, large cities in Canada have experienced severe housing crises<\/a> due to Chinese investors accumulating so many homes and leaving them completely empty. These practices have led several countries to place restrictions on Chinese real estate buyers.<\/p>\n

From The Daily Mail<\/a>:<\/p>\n

\u201cDeSantis shares similar views to countries, such as New Zealand, Australia, and Canada, which have imposed taxes on foreigner buyers purchasing property.\u00a0<\/em><\/p>\n

New Zealand, where Chinese investment has been blamed for a huge spike in home property prices, now charges a 15 percent tax to non-resident buyers. Australia imposes a 12.6 percent tax on any foreign buyer purchasing a home valued higher than $750,000 and have been since 2017. And in Canada, the government takes 50 percent of any sale as a withholding tax.\u201d<\/em><\/p>\n

Or, in some cases, flat-out ban them from buying homes for a period of time, as Canada is planning<\/a> to do this year.<\/p>\n

As of right now, America places absolutely no restrictions on foreign real estate purchases. We need to follow in Canada\u2019s \u2013 and others\u2019 \u2013 footsteps and ban Chinese investors<\/a> from hoarding homes to artificially inflate the market until we can get this thing back under control.<\/p>\n

It should go without saying \u2013 in America, Americans should come first. Especially when it comes to housing. Wealthy foreigners can look for a tax break somewhere else.<\/p>\n

The post In the Past Year, Chinese Investors Purchased $6.1 BILLION Worth of Property in The US After Being Banned by Other Countries for Pushing Up House Prices<\/a> appeared first on The Gateway Pundit<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

This week, a report by The National Association of Realtors (NAR) revealed that activity from foreign real estate<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-4154","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\nIn the Past Year, Chinese Investors Purchased $6.1 BILLION Worth of Property in The US After Being Banned by Other Countries for Pushing Up House Prices - Sasquatch News Online<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sasquatchnewsonline.com\/?p=4154\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"In the Past Year, Chinese Investors Purchased $6.1 BILLION Worth of Property in The US After Being Banned by Other Countries for Pushing Up House Prices - Sasquatch News Online\" \/>\n<meta property=\"og:description\" content=\"This week, a report by The National Association of Realtors (NAR) revealed that activity from foreign real estate\" \/>\n<meta property=\"og:url\" content=\"https:\/\/sasquatchnewsonline.com\/?p=4154\" \/>\n<meta property=\"og:site_name\" content=\"Sasquatch News Online\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-29T03:43:24+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/sasquatchnewsonline.com\\\/?p=4154#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/sasquatchnewsonline.com\\\/?p=4154\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"In the Past Year, Chinese Investors Purchased $6.1 BILLION Worth of Property in The US After Being Banned by Other Countries for Pushing Up House Prices\",\"datePublished\":\"2022-07-29T03:43:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/sasquatchnewsonline.com\\\/?p=4154\"},\"wordCount\":1052,\"commentCount\":0,\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/sasquatchnewsonline.com\\\/?p=4154#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/sasquatchnewsonline.com\\\/?p=4154\",\"url\":\"https:\\\/\\\/sasquatchnewsonline.com\\\/?p=4154\",\"name\":\"In the Past Year, Chinese Investors Purchased $6.1 BILLION Worth of Property in The US After Being Banned by Other Countries for Pushing Up House Prices - Sasquatch News Online\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/sasquatchnewsonline.com\\\/#website\"},\"datePublished\":\"2022-07-29T03:43:24+00:00\",\"author\":{\"@id\":\"\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/sasquatchnewsonline.com\\\/?p=4154#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/sasquatchnewsonline.com\\\/?p=4154\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/sasquatchnewsonline.com\\\/?p=4154#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/sasquatchnewsonline.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"In the Past Year, Chinese Investors Purchased $6.1 BILLION Worth of Property in The US After Being Banned by Other Countries for Pushing Up House Prices\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/sasquatchnewsonline.com\\\/#website\",\"url\":\"https:\\\/\\\/sasquatchnewsonline.com\\\/\",\"name\":\"Sasquatch News Online\",\"description\":\"Simple News Aggregator for Tall Furry Mammals\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/sasquatchnewsonline.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"In the Past Year, Chinese Investors Purchased $6.1 BILLION Worth of Property in The US After Being Banned by Other Countries for Pushing Up House Prices - Sasquatch News Online","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/sasquatchnewsonline.com\/?p=4154","og_locale":"en_US","og_type":"article","og_title":"In the Past Year, Chinese Investors Purchased $6.1 BILLION Worth of Property in The US After Being Banned by Other Countries for Pushing Up House Prices - Sasquatch News Online","og_description":"This week, a report by The National Association of Realtors (NAR) revealed that activity from foreign real estate","og_url":"https:\/\/sasquatchnewsonline.com\/?p=4154","og_site_name":"Sasquatch News Online","article_published_time":"2022-07-29T03:43:24+00:00","twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/sasquatchnewsonline.com\/?p=4154#article","isPartOf":{"@id":"https:\/\/sasquatchnewsonline.com\/?p=4154"},"author":{"name":"","@id":""},"headline":"In the Past Year, Chinese Investors Purchased $6.1 BILLION Worth of Property in The US After Being Banned by Other Countries for Pushing Up House Prices","datePublished":"2022-07-29T03:43:24+00:00","mainEntityOfPage":{"@id":"https:\/\/sasquatchnewsonline.com\/?p=4154"},"wordCount":1052,"commentCount":0,"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/sasquatchnewsonline.com\/?p=4154#respond"]}]},{"@type":"WebPage","@id":"https:\/\/sasquatchnewsonline.com\/?p=4154","url":"https:\/\/sasquatchnewsonline.com\/?p=4154","name":"In the Past Year, Chinese Investors Purchased $6.1 BILLION Worth of Property in The US After Being Banned by Other Countries for Pushing Up House Prices - Sasquatch News Online","isPartOf":{"@id":"https:\/\/sasquatchnewsonline.com\/#website"},"datePublished":"2022-07-29T03:43:24+00:00","author":{"@id":""},"breadcrumb":{"@id":"https:\/\/sasquatchnewsonline.com\/?p=4154#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/sasquatchnewsonline.com\/?p=4154"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/sasquatchnewsonline.com\/?p=4154#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/sasquatchnewsonline.com\/"},{"@type":"ListItem","position":2,"name":"In the Past Year, Chinese Investors Purchased $6.1 BILLION Worth of Property in The US After Being Banned by Other Countries for Pushing Up House Prices"}]},{"@type":"WebSite","@id":"https:\/\/sasquatchnewsonline.com\/#website","url":"https:\/\/sasquatchnewsonline.com\/","name":"Sasquatch News Online","description":"Simple News Aggregator for Tall Furry Mammals","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/sasquatchnewsonline.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"}]}},"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","darknews-slider-full":"","darknews-featured":"","darknews-medium":"","darknews-medium-square":""},"author_info":{"display_name":"","author_link":"https:\/\/sasquatchnewsonline.com\/?author=0"},"category_info":"<a href=\"https:\/\/sasquatchnewsonline.com\/?cat=1\" rel=\"category\">Uncategorized<\/a>","tag_info":"Uncategorized","comment_count":"0","jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/sasquatchnewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/4154","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sasquatchnewsonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sasquatchnewsonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/sasquatchnewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4154"}],"version-history":[{"count":0,"href":"https:\/\/sasquatchnewsonline.com\/index.php?rest_route=\/wp\/v2\/posts\/4154\/revisions"}],"wp:attachment":[{"href":"https:\/\/sasquatchnewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sasquatchnewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4154"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sasquatchnewsonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}