I’m a REALTOR and I can attest to the Chinese buying all-cash! I’ve worked with a client, fresh from getting his Master’s in Mechanical Engineering from Michigan and whose Dad bought him a home, and then a couple of other investment properties.
Also have a former colleague (I was once in Computer Engineering) who is Chinese and helped a friend from mainland China buy a million dollar home in Carlsbad sight unseen. The money is definitely flowing in from China, and is driving up prices.
