Chinese buyers are expanding their reach in the US housing market as its middle class gets in on the act, this according to a recent report on CNBC’s Realty Check. According to the report, Diana O’lick says Chinese buyers have been the top foreign buyers in both units and dollar volume of residential housing for six years straight, and are now expanding to new lower priced tiers. Interestingly, California is still the favorite among Chinese buyers, however they are moving into other areas such as Texas, Georgia and Florida.
“The Chinese people still see the United States as a safe harbor where they can take their assets and park their money not only for their money but also for the future of their children”
Click here to read Chinese investment in US housing grows on CNBC.com.
