What is the correlation between Chinese studying in the US and Chinese buying real estate in the US? Do Chinese students drive home purchases from Chinese in America?
The following article presents some interesting insights.
The number of Chinese students coming to America has been increasing steadily every year. In the academic year 2007-2008, there were 81,137 Chinese students coming to America. As of the year 2016-2017, there were more than 350,000 Chinese students coming to America! Many of these Chinese students have had their parents take care of them for their housing. IN the Chinese culture, Chinese do not like to rent an apartment as they think it is wasting money. Most Chinese parents would like to purchase an apartment in the US for their child who is studying there. It turns out that most Chinese students are studying at schools in west coast and east coast and this correlates closely with the real estate data showing that many Chinese are buying houses in those areas.
Over the last two years however, there is a trend of Chinese students applying for schools in many other cities in the mid-west, south and Florida as well. As such, real estate purchases by Chinese in those locations have been increasing as well.
At the other side, the number of American students going to China is going down. In the academic year 2007-2008, there were 13165 American students going to America. That number has been dropping to 11,688 students as of 2015-2016. And, sadly, very few of the American parents are buying an apartment for their child studying in China!
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