Thursday, July 10, 2014

Chinese Buying Spree For U.S. Homes

It appears that the Chinese are giving the U.S. housing recovery a huge boost.

While Canadians are number one in terms of buying homes, the Chinese buy more expensive homes.

They spend an average of $591,000, and three-quarters pay in all cash. However, only 39% of Chinese buyers intend to use their purchase as their main home.

Chinese buying is up 70% to $22 billion.