The Chinese were the largest group of foreign buyers of…

Barron’s: China Is Buying Up US Suburbs

Image: Barron's: China Is Buying Up US Suburbs

(WANG ZHAO/AFP/Getty Images)

By Frank McGuire   |   Saturday, 23 Jul 2016 04:01 PM

 A National Association of Realtors (NAR) survey for the second straight year showed that Chinese nationals (including those from Hong Kong, Taiwan, and the mainland) topped international home buyers in the U.S., with purchases of 29,195 homes totaling about $27 billion from April 2015 through March 2016, Barron’s reported.

The second-place Canadians bought 26,851 homes totaling only $9 billion, preferring vacation locales to homes in pricey suburbs, in states from New York to California to Washington, Barron’s reported.

Chinese buyers paid $936,615 per home on average during the period, up from $831,761 a year earlier, and far more than the average $477,462 paid by all international buyers, according to the NAR. U.S. home buyers paid only $266,683 on average, Barron’s reported.

About arnierosner

As an American I advocate a republic form of government, self-reliance, and adherence to the basic philosophy of the founding fathers and the founding documents, I ONLY respect those who respect and "HONOR" their honor. No exceptions!
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