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Home › Forums › Housing › Who are all these cash buyers in Carmel Valley?? › ocrenter wrote:Chinese RMB to

June 22, 2013 at 8:03 AM #763137
The-Shoveler
Participant

[quote=ocrenter][img_assist|nid=17338|title=Chinese RMB to US dollar|desc=|link=node|align=left|width=466|height=304]

since 2005 the Chinese RMB has appreciated against the US dollar by 25%. which means a house in CV is now at a 25% discount compared to 2005.

A $1 million dollar home in CV is now just $750k for them.[/quote]

Yes when it comes to Chinese money buying property, I think this explains it best, Guys you got to remember, China has been experiencing 5-15% wage inflation plus house/condo price inflation, then you add the fact that their currency is appreciating against the dollar.

Guys this is the thing.
China gov has been out printing the U.S. fed for several years now, they are the number one currency creator.
They got to spend it somewhere!!