ForbiddenKnowledgeTV
Alexandra Bruce
March 1, 2014
Chinese millionaires are snapping up real estate, all over the North American West Coast.
In Detroit, entire neighborhoods and subdivisions can being bought for a pennies on the dollar.
The latter may not seem like desirable real estate, today – but the prices are so low – and the fact that *entire* neighborhoods can be bought make these look like good deals to these Chinese buyers.
The average debt of a US citizen is the highest in the history of the country and an unrealistic gap persists between the *earnings* of prospective US buyers and the *prices* of real estate, in many markets throughout the US.
This, despite the the implosion of the real estate market during the Global Financial Meltdown.
It is unknown how extensive this trend is or how long it will last – but if it continues apace, North Americans will be priced out of the very common dream of home ownership due to market domination of non-citizens of this Continent.
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Chinese To Spend Billions On American Real Estate
Chinese buying up California housing
China Moves to U.S. Projects
consumer debt increased in the third quarter by $127 billion
Sources:
http://www.forbes.com/sites/kenrapoza/2013/07/10/chinese-to-spend-billions-on-american-real-estate/
http://www.cnbc.com/id/101225345
http://online.wsj.com/news/articles/SB10001424052702304402104579151771134834290
http://usa.chinadaily.com.cn/epaper/2013-11/08/content_17091013.htm
http://www.theglobeandmail.com/life/home-and-garden/real-estate/toronto-agents-go-online-to-reach-chinese-buyers/article14119720/
http://www.newyorkfed.org/householdcredit/2013-Q3/HHDC_2013Q3.pdf
http://www.cbc.ca/news/business/personal-debt-ratio-hits-record-high-of-163-7-1.2462954