MarketWatch writes article about Chinese all-cash buyers of U.S. homes have tripled since 2005:
By Daniel Goldstein
Published: Oct 9, 2015 2:12 p.m. ET
Mandarin-speaking Chinese are buying mostly high-end homes with a
median price of over $500,000
By
DanielGoldstein
Personal finance reporter
Xi”osh”u. That’s how you say ‘For Sale’ in Chinese. And if you’re
selling to an all-cash buyer in a U.S. real estate deal, you may need
to find a real-estate agent who speaks Mandarin.
A joint analysis by Irvine, Calif.-based realty research firm
RealtyTrac, and New Jersey-based multicultural marketing company Ethnic
Technologies, found that 46% of Mandarin Chinese-speaking buyers who
purchased U.S. homes in the 17 months ending in May 2015 paid all cash,
more than triple the number paying all cash in 2005. Overall, Mandarin
speakers are the second largest non-English speaking cash-paying group,
totaling nearly 18% of all cash deals, second behind those buyers
speaking Spanish at 43%.
Among all non-English speaking groups, the share of all-cash buyers of
U.S. homes increased from a 20% share in 2005 to a 33% share in the 17
MarketWatch Article Source Here.