[quote=flyer]Just as so many of the wealthy in the Bay Area, many of my cousins and others whose families wealth predated the arrival of tech, seemed to be ready for a change, and I think some of the negative issues going up there helped them make their decisions.
Since they can live anywhere they wish, and still keep their other properties, some of which they are renting to the techies, they have been motivated to make some changes in their lives for various reasons, none of which have anything to do with finances, and they are very happy with their choices, so, all is well. They especially love now having homes by our beautiful beaches, and that was another big determining factor vs. staying in SFO.[/quote]
Pfff. The biggest money was not earned here in the States, but over in China. Said cousin and relatives dumped a bundle on entire neighborhood block in Suzhou, China before the factories moved in, where first factory an airline seat manufacturer that moved manufacturing from US there. Lakefront property that was not available to foreign investors, $200k USD that subsequently rented for $5000/month to expats, where value currently sits roughly at 17.5k RMB per sq meter.
I wish I could have gotten in, but again, not available to foreigners…
I guess that’s why people here tried to invest in china a decade late… Picking up after the scraps what people there don’t want and try to pawn off to a bigger foreign sucker…Poor foreign investors of Evergrande.
