Comment by hnpolicestate
3 days ago
I promise I'm not gaslighting you. The majority of individuals buying residential real estate where I'm located are new arrivals or 1st generation. The Chinese circumstance is bizarre and has been going on for over 10-15 years. So they all use Chinese banks right? The rumor for years is that the Chinese government funnels the financing somehow to new arrivals to buy up real estate. They used to go up and down Brooklyn buying properties with over a million in cash. But barely speak English! It's just bizarre.
Oh yes we have that too in the DC area. Especially from China.
It made it extremely difficult for us to buy our house because we kept losing out to all cash offers from China, and that was 10 years ago.
My point was meant more that I also knew tons of immigrants that made their money here with the same opportunities available to locals, and not some unfair advantage.