Chinese businesses and citizens are struggling - Xi Jinping, president of China, acknowledged during a New Year's Eve speech. Companies in China are struggling, new gradudates are finding it harder to find jobs, Chinese citizens are pessimistic about the furture in their country,....
What does this mean for the US housing market?
Early signs indicate that Chinese citizens are reluctant to make any more investment in their own country but rather try to get their money out of China and invest overseas. As a result, the US housing market may see a pick up again - early data for 2023 shows that the number of properties sold to Chinese buyers is going up again. Eleven thousand properties were sold to Chinese in 2023 which is almost double the number of 2022. It certainly still is a long way off from the peak in 2017 when 40,600 properties in the US were sold to Chinese. Read more details about China here.
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