Spdrun, China’s economy has grown 60%+ since the bubble pop. They are just as keen on buying in CA as before, but their resources are much higher.
By the way price to annual rent in major Chinese cities is about 50. Our markets have both higher returns and greater safety and protection from seizures. While rent is rising faster in China, that has a very long way to go. A 400k San Diego condo rents for about 2200/mo, but in Shanghai you’d get about $800/mo in rent on a 400k condo. Why do people still buy? Banks are unsafe and pay almost no interest, well below inflation. Also it is a requirement to get married in the middle class.
