Turmoil in Chinese Stock Market: Will It Affect U.S. Housing?
As you’re likely aware, the stock market in China is currently experiencing a bit of turmoil.
And with so much Chinese money tied up in U.S. real estate investments, many experts are led to wonder what sort of effect this will have on our country’s housing market.
“My conclusion on China is that those who are buying U.S. real estate are doing it with a very long-term view – to diversify their assets, provide a safe haven in case something happens at home,” said John Burns of California-based John Burns Real Estate Consulting. “I don’t think a 30 percent stock correction after a relatively recent 150 percent boom changes much of that. If you told me the economy was going negative, their shadow banking system was exploding, or the government clamped down on foreign investment, then I would be concerned.”
Image via flickr/futureatlas.com