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

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

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.

The Democrats are selling and trafficking America, the way their drug cartels sell and traffic children.

Story continues below advertisement

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

By: Julian Conradson,, The Gateay Pundit, July 29, 2022:

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

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.

With Biden in office, Chinese investors are gobbling up US houses at an alarming rate.

From the Washington Examiner:

“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.”

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.

From the Daily Mail:

“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.

From DeSantis:

“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.”

Watch:

https://youtu.be/_MkOw1URMJE

The Truth Must be Told

Your contribution supports independent journalism

Please take a moment to consider this. Now, more than ever, people are reading Geller Report for news they won't get anywhere else. But advertising revenues have all but disappeared. Google Adsense is the online advertising monopoly and they have banned us. Social media giants like Facebook and Twitter have blocked and shadow-banned our accounts. But we won't put up a paywall. Because never has the free world needed independent journalism more.

Everyone who reads our reporting knows the Geller Report covers the news the media won't. We cannot do our ground-breaking report without your support. We must continue to report on the global jihad and the left's war on freedom. Our readers’ contributions make that possible.

Geller Report's independent, investigative journalism takes a lot of time, money and hard work to produce. But we do it because we believe our work is critical in the fight for freedom and because it is your fight, too.

Please contribute here.

or

Make a monthly commitment to support The Geller Report – choose the option that suits you best.

Quick note: We cannot do this without your support. Fact. Our work is made possible by you and only you. We receive no grants, government handouts, or major funding. Tech giants are shutting us down. You know this. Twitter, LinkedIn, Google Adsense, Pinterest permanently banned us. Facebook, Google search et al have shadow-banned, suspended and deleted us from your news feeds. They are disappearing us. But we are here.

Subscribe to Geller Report newsletter here— it’s free and it’s essential NOW when informed decision making and opinion is essential to America's survival. Share our posts on your social channels and with your email contacts. Fight the great fight.

Follow Pamela Geller on Gettr. I am there. click here.

Follow Pamela Geller on
Trump's social media platform, Truth Social. It's open and free.

Remember, YOU make the work possible. If you can, please contribute to Geller Report.

Join The Conversation. Leave a Comment.

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spammy or unhelpful, click the - symbol under the comment to let us know. Thank you for partnering with us to maintain fruitful conversation.

If you would like to join the conversation, but don't have an account, you can sign up for one right here.

If you are having problems leaving a comment, it's likely because you are using an ad blocker, something that break ads, of course, but also breaks the comments section of our site. If you are using an ad blocker, and would like to share your thoughts, please disable your ad blocker. We look forward to seeing your comments below.

Sponsored
Geller Report
Thanks for sharing!