>>13593973 (pb) >Federal Judge Strikes Down Moratorium on Evicting Renters
Get ready for transfer of property to the weathly. I'm sure China has a team ready to snatch up land. I honestly dont like foreign nationals taking land from Americans, especially China as who knows how the got the money. Same thing happening in Canada.
China's Newest City: We Call It 'Detroit'
Dec 8, 2013,12:34pm EST
China's Newest City: We Call It 'Detroit'
Gordon G. Chang
I write about Asia, especially the Chinese economy.
This article is more than 7 years old.
Detroit, broke with almost no prospects for recovery, is the fourth most popular U.S. destination for Chinese real estate investors. In fact, it was bad news—the city’s July 18 bankruptcy filing—that triggered renewed interest. “While the bankruptcy is viewed as a bad thing elsewhere, it raised the exposure level of Detroit’s real estate market in China,” says Evonne Xu, a Michigan attorney catering to Chinese purchasers. Middle Kingdom, meet Motown.
Chinese shoppers can’t resist a bargain. Where else can you buy a two-story home in the U.S. for $39? China Central Television, the state broadcaster, in March reported that two houses in Detroit cost the same as a pair of leather shoes. No wonder a poster on Sina Weibo, the Twitter-like service, asked, “Seven-hundred thousand people, quiet, clean air, no pollution, democracy—what are you waiting for?”
Who says the Chinese are waiting? Dongdu International Group of Shanghai bought, sight unseen, two downtown icons, the David Stott building for $4.2 million and the Detroit Free Press building for $9.4 million, both at auction this September.
Moreover, Chinese purchasers are making bulk purchases of “inexpensive properties”—those selling for $25,000 or less—in the rings surrounding the city center. “They’re banking on the downtown resurgence spiraling out into those rings,” explains Kelly Sweeney of Coldwell Banker Weir Manuel. Mainland parties often buy at tax and foreclosure sales, hold their property, and patiently wait for appreciation.
https://www.forbes.com/sites/gordonchang/2013/12/08/chinas-newest-city-we-call-it-detroit/
Canada
The Chinese Government Just Seized Billions Worth Of Canadian Real Estate
FEBRUARY 23, 2018
One of China’s largest overseas buyers just had its operations seized by the government. The China Insurance Regulatory Commission (CIRC), a state run regulator, has officially begun prosecution of Wu Xiaohui, the former CEO of Anbang. The process has led the government to seize control of the assets “temporarily,” placing billions of dollars of Canadian real estate in the hands of the Chinese government. Oh yeah, and the Chinese government may be deciding which assets need to be liquidated.
CEO Prosecuted, Company Control Seized By The Government
Early this morning, the CIRC announced that Wu would be prosecuted on suspicion of “economic crimes.” CIRC will takeover the company for a period of at least one year, to “protect” Anbang’s consumers. This builds on a previously announced strategy, where the government formed committees to “resolve risks at a few problem companies in an orderly and controllable manner.” The regulator notes that the company is “basically stable.” At least one buyer is already in talks to bid for some of Anbang’s assets.
https://betterdwelling.com/chinese-government-just-seized-billions-worth-canadian-real-estate/#_
Just two examples