The National Association of Realtors reported on Wednesday that Chinese buyers were the largest foreign purchasers of U.S. real estate for the fourth consecutive year. From March 2015 to March 2016, 29,195 Chinese buyers purchased a total of $27.3 billion worth of property in the United States.
The average purchase was about $542,084, which is higher than the current median U.S. home price ($223,058). The purchases are mainly done by Chinese elite in order to increase their own wealth.
Chinese buyers purchased three times more property in the United States than in Canada. Chinese bought $8.9 billion worth of property in Canada. India was third, with $6.1 billion purchased. Mexico was fourth, with $4.8 billion.
Source: inews.qq.com
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Keywords: National Association of Realtors U.S. real estate U.S. property
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More money in Whitey's countries that will ultimately end up in White people's hands, what to complain about?
Jul 11, 2016 19:01 Report Abuse
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