Jordan Maxwell
Other
Vancouver is not alone in being rocked by real estate buyers from China. According to news1130.com, the explosive growth of the Chinese economy is fueling an international buying binge. Chinese purchases of foreign homes totalled $39 billion US last year, according to Real Capital Analytics, from less than one-tenth of a billion just six years earlier. Such investment is pushing up prices in Australia, the US, the UK and Hong Kong, according to Bloomberg reporter Bonnie Cao in New York, and they’re not necessarily billionaires. “A lot of them are actually professionals such as lawyers, doctors, engineers – not as in the old days.”
Copyright © 2015 Key Media Pty Ltd